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 700,000 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 $1.25 last year and $0.90 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) This Year Last Year Assets Current assets: 1,160 1,300 Cash Accounts receivable, net 9,400 8,000 Inventory 13,200 11,600 Prepaid expenses 750 570 24,510 21,470 Total current assets Property and equipment: Land 9,100 9,100 Buildings and equipment, net 45,404 42,937 Total property and equipment 54,504 52,037 $79,014 $73,507 Total assets Liabilities and Stockholders' Equity Current liabilities: $19,500 $19,400 Accounts payable 960 Accrued liabilities 880 Notes payable, short term 260 Total current liabilities 20,460 20,540 Long-term liabilities Bonds payable 9,300 9,300