Capita Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Sales 4,500 42,061 4,500 37,438 46,561 41,938 $ 75,101 $ 70,148 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Cost of goods sold. Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes 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 This Year Last Year $ 68,000 41,000 $ 65,000 36,000 27,000 29,000 11,200 10,700 6,600 6,600 17,800 17,300 9,200 11,700 870 870 8,330 10,830 3,332 4,332 4,998 6,498 375 200 4,623 37,438 6,298 31,140 $ 42,061 $ 37,438 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 this year was $24. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets 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 Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Weller Corporation This Year Last Year $ 1,210 10,400 13,500 640 $ 1,280 7,200 10,800 640 25,750 19,920 9,100 9,100 40,251 49,351 41,128 50,228 $ 75,101 $ 70,148 $ 18,600 970 270 $ 18,500 740 270 19,840 19,510 8,700 28,540 8,700 28,210 500 500 4,000 4,000 4,500 4,500 42,061 37,438 46,561 41,938 $ 75,101 $ 70,148 Comparative Income Statement and Reconciliation