2. Correct answers please.

Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 800,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and S0.40 this year. The market value of the company's common stock at the end of the year was $18. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet dollars in thousands) This Year Last Year Current assets 1.280 S 1,560 2,300 9.100 ,700 8,200 1,800 2.100 Accounts receivable, net Prepaid expenses Total current assets 25,080 20.960 Property and equipment 6,000 6,000 9,200 19,000 25.200 25,000 $50,280 $45,960 Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Accrued liablities Notes payable, short term $9,500 s 8.300 700 300 600 300 Total current liabilities Long-term labilises 10,400 9,300 ,000 5000 5.400 14,300 Bonds payable Total liabilties Common stock Additional paid-in capital 800 4,200 800 4.200 5,000 Total paid-in capital Retained eamings 5,000 29,880 26,660 4,880 31,660 $50,280 $45,960 Total stockholders equity Total liabilities and stockholders'equity