Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Weller Corporation Comparative Balance Sheet (dollars in thousands) Total property and equipment Total assets Current liabilities: Accounts payable Liabilities and Stockholders' Equity Accrued liabilities 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 Retained earnings This Year Last Year $ 1,260 9,200 $ 1,290 13,800 8,200 11,700 720 630 24,980 21,820 9,500 42,723 52,223 $ 77,203 $ 68,424 9,500 37,104 46,604 $ 20,000 1,020 130 $ 19,200 820 130 21,150 20,150 9,100 9,100 30,250 29,250 500 500 4,000 4,000 4,500 4,500 42,453 34,674 46,953 39,174 $ 77,203 $ 68,424 Total stockholders' equity Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 68,000 Last Year $ 65,000 Cost of goods sold 36,000 41,000 Gross margin 32,000 24,000 Selling and administrative expenses: Selling expenses Administrative expenses. 10,600 10,800 6,900 6,400 Total selling and administrative expenses 17,500 17,200 Net operating income 14,500 6,800 Interest expense 910 910 Net income before taxes 13,590 5,890 Income taxes 5,436 2,356 8,154 3,534 375 200 Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 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-test ratio 7,779 34,674 $ 42,453 3,334 31,340 $ 34,674