4 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 860,000 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 $0.40 this year. The market value of the company's common stock at the end of this year was $21. All of the company's sales are on account. Weller 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 $976 15,000 $1,920 10,050 10,000 8,440 1,860 2,220 27,836 22,630 Property and equipment Land Buildings and equipment, net 5,600 6,600 19,000 19,600 Total property and equipment 26,400 26,200 Total assets $54,236 $48,830 Liabilities and Stockholders' Equity Current liabilitiess Accounts payable $10,100 Accrued liabilities $ 8,600 720 Total current liabilities Notes payable, short term Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Weller Corporation $ 54,236 $ 48,830 Comparative Income Statement and Reconciliation 360 1,000 360 11,180 9,960 6,250 6,250 17,430 16,210 860 4,500 860 4,500 5,360 5,360 31,446 27,260 36,806 32,620 Mc Graw Hill (dollars in thousands) Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selline and administrative expenses This Year Last Year 85,000 80,000 55,000 $1,000 30,000 29,000 9,100 8,400 12,600 11,600 21,700 20,200 < Prev 4 of 5 Next >