meeting its stockholders' expectations. ’
Short-Tenn Liquidity
letBlue‘s balance sheet over the past five years is Show“
in Exhibit .2. let Blue has struggled with financnal perfor-
mance since 2005. The growth ofcurrent liabilities from
2003 to 2006 is significant, compared to the growth of
current assets. However, the. payables turnover ratio has
been increasing, which indicates that IetBluc has been
able to pay its suppliers at a faster rate even though it has
not been as efficient in collecting receivables as in years
past. (Liquidity ratios are shown in Exhibit 9 and turn-
over ratios are shown in Exhibit 10.)
Long-Term Stability
Longterm financial stability will be an issue as letBlue
toils to consistently turn a profit. letBlue has maintained