The following financial data and ratios are typical of companies in Lydex Company's industry: 3....
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The following financial data and ratios are typical of companies in Lydex Company's industry: 3. 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 2 decimal places. c. The acid-test ratio. Note: Round your final answers to 2 decimal places. d. The average collection period. (The accounts receivable at the beginning of last year totaled $1,650,000.) Note: Use 365 days in a year. Round your intermediate calculations and final answers to 2 decimal place. e. The average sale period. (The inventory at the beginning of last year totaled $2,010,000.) Note: Use 365 days in a year. Round your intermediate calculations and final answers to 2 decimal place. f. The operating cycle. Note: Round your intermediate calculations and final answers to 2 decimal place. g. The total asset turnover. (The total assets at the beginning of last year totaled $13,050,000.) Note: Round your final answers to 2 decimal places
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