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 600,000 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 $29. 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 $1,090 $1,250 Accounts receivable, net 10,700 7,600 Inventory 13,100 11,000 Prepaid expenses Total current assets 700 630 25,590 20,490 Property and equipment: Land 10,900 10,900 49,034 40,202 Buildings and equipment, net Total property and equipment 59,934 51,102 Total assets $ 65,524 $ 71,592 Liabilities and Stockholders' Equity Current liabilities: $ 20,200 Accounts payable Accrued liabilities. $ 18,400 900 710 190 21,100 19,300 Notes payable, short termi Total current liabilities Long-term liabilities: Bonds payable: Total liabilities. 8,300 8,800 29,900 28,100 Stockholders equity: Common stock 2,000 2,000 Additional paid-in capital 4,000 4,000 Total paid-in capital 6,000 6,000 Retained earnings 49,624 37,492 Total stockholders' equity- 55,624 43,497 Total liabilities and stockholders' equity $ 85,5241 $ 71,592 0 Weller Corporation Comparative Income Statement and Reconciliation. (dollars in thousands) This Year $ 73,000 34,000 39,000 11,000 6,500 17,500 21,500 880 20,620 8,248 12,372 240 12,132 37,492 $ 49,624 Sales 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 ratios for this year 1. Times interest earned ratio. 2 Debt-to-equity ratio. 3. Equity multiplier. (For all requirements, round your answers to 2 decimal places.) 1. Times interest earned ratio 2. Debt-to-equity ratio. 3. Equity multiplier Last Year $ 65,000 37,000 28,000 10,000 6,700 16,700 11,300 880 10,420 4,168 6,252 300 5,952 31,540 $ 37,492