Using the financial information provided on the attached income statement and balance sheet for Lakeside Company, perform the following analytical procedures:

Ratio	2007	2008
Current	1.36	1.36
# Days inventory on hand	93.03	100.52
Receivable collection period (days)	20.63	24.71
Debt-to-total-assets	75%	75%
Times interest earned	3.58 times	2.79 times
Profit Margin	2.79%	2.27%
Return on Assets	8.48%	6.73%
Return on Equity	33.17%	26.41%

What is your overall assessment of the significance of the ratios in 2007 and 2008?

What is your overall assessment of the change in ratios from 2007 to 2008?