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$$s financial statements for the last two years are as follows: Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash $ $930,000$ $ $1,170,000$ Marketable securities $0300,000$ Accounts receivable, net $2,580,0001,680,000$ Inventory $3,570,0002,200,000$ Prepaid expenses $250,000190,000$ Total current assets $7,330,0005,540,000$ Plant and equipment, net $9,460,0009,020,000$ Total assets $ $16,790,000$ $ $14,560,000$ Liabilities and Stockholders' Equity Liabilities: Current liabilities $ $3,980,000$ $ $2,920,000$ Note payable, $10\%3,640,0003,040,000$ Total liabilities $7,620,0005,960,000$ Stockholders' equity: Common stock, $$70$ par value $7,000,0007,000,000$ Retained earnings $2,170,0001,600,000$ Total