Question
28 Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below The company did not issue any
28 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 600,000 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 $23. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) Hint Assets Current anneta Cash Accounts receivable, net Inventory Prepaid expenses Total current assets This Year Last Year $1,100 10,100 $1,370 7,800 13,600 630 25,510 10,900 610 20,680 Prit Property and equipment Land 9,700 9,700 Buildings and equipment, net 49,285 38,998 Total property and equipment 50,905 48,698 eferencers Total assets $84,495 69,378 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities. Stockholders' equity: Common stock Additional paid-in capital 18,600 1,090 280 19,970 $10,100 876 280 19,250- 5,700 29,670 9,700 28,950 600 600 4,000 4,000 Total paid-in capital 4.600 4,600 50,225 35,028 Retained earnings Total stockholders' equity $4,825 40,428 holders' equity $84,495 $ 69,378
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