Che 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 880,000 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 $22. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets! Cash $ 3,508 5 4,348 Accounts receivable, net 15,200 10,150 Inventory 10,1ee 8,520 Prepaid expenses 1.880 2,260 Total current assets 30.688 25, 270 Property and equipnent: Land 6,800 6. Bee Buildings and equipnent, net ze ees 19,800 Total property and equipment 26,800 26,600 Total assets $ 57,488 $ 51,870 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 10,300 $ 8,700 Accrued liabilities 760 1.100 Notes payable, short tern 380 380 Total current liabilities 11,440 10,180 Long-tern liabilities: Bonds payable 0.750 3,750 Total liabilities 20, 190 18.930 Stockholders' equity Common stock 880 880 + AE HE 880 4,600 5,480 27,460 32,940 $ 51,870 ped nt ences Stockholders' equity: Common stock 880 Additional paid-in capital 4,600 Total paid in capital 5,480 Retained earnings 31,818 Total stockholders' equity 37, 298 Total liabilities and stockholders' equity $ 57,488 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 87,000 Cost of goods sold 56,000 Gross margin 31, eee Selling and administrative expenses: Selling expenses 9,300 Administrative expenses 12,800 Total selling and administrative expenses 22, 100 Net operating income 8,900 Interest expense 1,ese Net income before taxes 7,850 Income taxes 3,140 Net income 4,719 Dividends to common stockholders 352 Net Income added to retained earnings 4.358 Beginning retained earnings 27, 460 Ending retained earnings $ 31,818 Last Year $ 82,000 52, eee 30,000 8,800 11.800 20,600 9,400 1,050 8,350 3,340 5,010 784 4,306 23,154 $ 27,460 Required: Compute the following financial data for this year 1 Gross marcin nercentane (Round vour Dercentage answer to 1 decimal place le 0.1234 should be entered as 12