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Required information [ The following information applies to the questions displayed below. ] Lydex Company's financial statements for the last two years are as follows:
Required information
The following information applies to the questions displayed below.
Lydex Company's financial statements for the last two years are as follows:
To assess the company's liquidity and asset management, compute the following for this year and last year:
a Working capital.
b The current ratio.
Note: Round your final answers to decimal places.
c The acidtest ratio.
Note: Round your final answers to decimal places.
d The average collection period. The accounts receivable at the beginning of last year totaled $
Note: Use days in a year. Round your intermediate calculations and final answers to decimal place.
e The average sale period. The inventory at the beginning of last year totaled $
Note: Use days in a year. Round your intermediate calculations and final answers to decimal place.
f The operating cycle.
Note: Round your intermediate calculations and final answers to decimal place.
g The total asset turnover. The total assets at the beginning of last year totaled $
Note: Round your final answers to decimal places.
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