Required information (The following information applies to the questions displayed below.) You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet Assets This Year Last Year Current assets! Cash Marketable securities $ 1.030,000 $ 1,270,000 OR 300,000 Accounts receivable, net 2,980,000 2,080,000 Inventory 3,670,000 2,200,000 Prepaid expenses 270,000 210,000 Total current assets 7,950,000 6,060,000 plant and equipment, net 9,660,000 9,120,000 Total assets $17,610,000 $15,180,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 4,000,000 $ 3, 120,000 3,720,000 3,120,000 Note payable, 10% Total liabilities 2.000.000 6/240,000 Stockholders' equity 7,000,000 7,000,000 Common stock, $70 par value 2.810,000 1,940.000 Retained earnings 90110,000 0,940,000 Total stockholders' equity $17,610,000 $15,180,000 Total llabilities and stockholders' equity Lydex Company Comparative Income Statement and Reconciliation This Year Last Year Sales all on account) $ 15,930,000 $ 14,280,000 Cost of goods sold 12.744.000 10.710,000 Gross margin 3,186,000 3,570,000 Selling and administrative expenses 1.114.000 1.632,000 Net operating income 2,072,000 1,938,000 Interest expense 372.000 312,000 Net income before taxes 1,700,000 1,626,000 Income taxes (308) 510,000 487.300 Net income 1,190,000 1.138,200 Common dividende 320,000 569,100 Ann 56010 Na retina Ned 19