3 166 points Exercise 14-2 Financial Ratios for Assessing Liquidity [LO14-2] 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 500,000 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 the year was $27. All of the company's sales 02:1559 are on account. Sipped Neller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year eBook Hint Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $1,150 9,500 12,700 $ 1,340 7,300 11,200 640 646 23,990 20,480 Property and equipment: Land 10,600 10,600 Print Buildings and equipment, net 49,502 39,016 Total property and equipment 60,102 49.016 Total assets 364,092 $70,096 References Liabilities and Stockholders' Equity) Current 11abilities Accounts payable $20,200 $10,200 Accrued liabilities 1,060 750 Notes payable, short term 200 200 Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock 21,460 19,150 9,900 31,300 0,900 29,050 500 500 Additional paid-in capital 4,000 4,000 Total paid-in capital 4,500 4,500 Retained earnings 48,232 36,546 Total stockholders' equity $2,732 41,046 Total liabilities and stockholders' equity $84,092 $70,006