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 Curment assets 945.0001.250,000 Accounts neceivable, net 2 900.000 2.000,000 2000,000 Prepaid expenses Total cument assets 7365.000 5760,000 Plant and equipment, net Total assets Liabilities and Stockholders"Equity 17 385.000 14.860,000 4.070.0003.080,000 Cument liablities Note payable, 10% 31700 000 3100,000 Total Sabiles 7 3770 000 6180,000 7000.000 7000,000 Common stock, $70 par value Retained eamings Total stockholders equty 8 680,000 Total labilities and stockholders" equity 17 385.000 14.860,000 Comparative Income Statement and This Year 15.910.000 14.080.000 12.728.000 Last Year Cost of goods sold Gross margin Selling and administrative expenses 3.520.00 624,000 3182.000 1019 143 2.162 857 Net operating income interest expense Net income before taxes 586 000 income taxes (30%) 537 857 1255.000 1,110.200 55 100 Common dividends 55.100 1,124 900 Net income retained 680,000 Ending retained eanings 2.615.000 1680.000 To begin your assigment you gather the following financial data and ratios that are typical of companies in Lydex Company's industry