Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal 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 bonds, which were sold at their face value, 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 the year was $22. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) his Year Last Year Assets Current assets: 1,160 1,320 Cash Accounts receivable, net 10,700 8,000 13,100 11,500 790 620 Inventory Prepaid expenses Total current assets 25,750 21,440 Property and equipment: Land 10,700 10,700 Buildings and equipment, net 45,364 39,462 Total property and equipment 56,064 50,162 Total assets $81,814 $71,602 Liabilities and Stockholders' Equity Current liabilities: $19,100 $17,600 Accounts payable Accrued liabilities 1,070 860 Notes payable, short term 290 290 Total current liabilities 20,460 18,750 Long-term liabilities Bonds payable 8,300 8,300 Total liabilities 28,760 27,050 Stockholders' equity Common stock 600 600 Additional paid-in capital 4,000 4,000 Total paid-in capital 4,600 4,600 Retained earnings 48,454 39,952 Total stockholders' equity 53,054 44,552 Total liabilities and stockholders' equity $81,814 $71,602