Refer to the financial statement data for Lydex Company given in Problem 1614. Required: For both this

Question:

Refer to the financial statement data for Lydex Company given in Problem 16—14.

Required:

For both this year and last year:

1. Present the balance sheet in common-size format.

2. Present the income statement in common-size format down through net income.

3. Comment on the results of your analysis.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...