1 Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any common stock during the year. A total of 700,000 shares of common stock were outstanding The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $24. All of the company's sales are on account Book H Assets Current assets: Cash Accounts receivable, net Inventory Total current assets Weller Corporation Comparative balance sheet (dollars in thousands) This Year Last Year $1,190 11,240 10,200 7,400 11,600 12,100 730 670 15,720 21,410 Weperty and equipment Land Buildings and equipment, met 43,229 30.902 Total property and equipment 51,839 46,692 Total assets $78,549 Liabilities and Stockholders Equity Current liabilities Accounts payable 118,500 $19,000 Accrued abilities Notes payable, short term 1,000 210 250 210 Total 19,790 15,960 29,990 Retained earnings Stockholders equity: Common stock Additional paid-in capital Total paid-in capital Total stockholders' equity Total abilities and stockholders' equity 100 200 4,000 4,000 4,700 4,700 44,759 34,142 49,459 $78,549 30,043 $68,102 1 Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Heller Corporation 4,000 4,000 4,700 4,700 44,759 34,142 49,459 10,842 578,549 568,102 Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales Cest of goods gold $ 74,000 5:64,000 36,000 39,000 38,000 25,000 11,300 10,900 7,200 6,700 18,500 17,600 19,500 7,400 -930 930 18,570 6,470 7,438 3,500 11,142 3,882 329 200 10,617 3,002 34,142 30,540 $44,759 $34,142 H Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating Incone Net income before taxes Interest expense Income taxes het income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: Compute the following financial data and ratios for this year 1. Working capital Note: Enter your answer in thousands. 2. Current ratio Note: Round your answer to 2 decimal places. 3. Acid-test ratio. Note: Round your answer to 2 decimal places 1. Working capital 2. Current ratio 3 Acid test ratio