2 Skipped Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new 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 $29. All of the company's sales are on account. Meller Corporation Comparative Balance Sheet (dollars in thousands) eBook 10 Hint Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land This Year Last Year $1,200 $1,240 10,200 8.400 12,300 10,600 769 640 24,460 20,900 9,100 9,100 55,330 40,205 64,430 49,305 Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued liabilities Notes payable, short ters Total current liabilities. Long-term Liabilities: Bonds payable Total liabilities stockholders equity Common stock Additional paid-in capital Total paid-in capital Betained earnings 88,890 $ 70,105 $20,300 $18,400 950 120 770 120 21,370 19,290 9,000 9,000 30,370 28,290 700 700 4,000 4,000 4,700 4,700 $3,820 37,195 50,520 41,095 Total stockholders' equity Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Beconciliation (dollars in thousands) Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating in This Tear Last Year 82,770 66,000 35,495 37,000 47,275 29,000 11,400 10,700 6,800 5,100 10,300 16,000 29,075 12.200