3 14.28 points Skipped eBook Hint Print References 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 $24. All of the company's sales are on account. Assets Current ansetas Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land: buildings and equipment, net Total property and equipment Total assets Weller Corporation Comparative Balance Sheet (dollars in thousands) Liabilities and Stockholders Equity Current liabilities: Accounts payable Accrued liabilities This Year Last Year 520,400 39,940 $1,250 9,500 12,300 800 23,850 $1,350 6,500 12,500 700 21,050 9,700 9,700 45,340 55,040 49,640 $ 70,890 $ 70,690 $18,800 1,010 740 310 110 21,520 19.650 8,000 8,000 29,520 27,650 600 600 4,000 4,000 4,600 4.600 44,778 38,440 Retained earnings Total stockholders' equity 49,378 43,040 Total liabilities and stockholders' equity $78,890 $ 70,690 Weller Corporation Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Next > S $78.090 570,690 Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) 14.28 points Sales This Year $72,000 Cost of goods sold 42,000 Last Year $65,000 35,000 Skipped Gross margin 30,000 30,000 Selling and administrative expenses Selling expenses 10,900 10,700 Administrative expenses 7,000 6,600 Total selling and administrative expenses 17,900 17,300 Net operating income 12.100 12,700 ellook Interest expenne 800 800 Net income before taxes Hint Print References Income taxes Net income Dividends to connon stockholders Net income added to retained earnings Beginning retained earnings Ending retained earninge Required: Compute the following financial data and ratios for this year 1. Working capital. (Enter your answer in thousands.) 2. Current ratio. (Round your answer to 2 decimal places.) 3. Acid-test ratio. (Round your answer to 2 decimal places.) 1. Working capital 2. Current ratio 3. Acid-lest ration 11,300 4,520 6,700 450 6,330 38,440 $ 44,770 $38,440 11,900 4,760 7,140 240 6,900 31,540