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 $1.00 last year and $0.65 this year. The market value of the company's common stock at the end of the year was $26. 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 $ 1,220 $ 1,240 Accounts receivable, net 10,700 7,500 Inventory 13,500 11,500 Prepaid expenses 770 580 Total current assets 26,190 20,820 Property and equipment: Land 9,600 9,600 Buildings and equipment, net 41,860 38,810 Total property and equipment 51,460 48,410 Total assets $77,650 $69,230 $19,500 $18,000 940 890 140 140 20,580 19,030 8,000 8,000 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 28,580 27,030 600 4,000 600 4,000 4,600 44,470 4,600 37,600 49,070 42,200 Total liabilities and stockholders' equity $77,650 $ 69,230 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 70,000 $66,000 Cost of goods sold 39,000 36,000 Gross margin 31,000 30,000 Selling and administrative expenses: Selling expenses 11,300 10,400 Administrative expenses 6,800 6,200 Total selling and administrative expenses 18,100 16,600 Net operating income 12,900 13,400 Interest expense 800 800 Net income before taxes 12,100 12,600 Income taxes 4,840 5,040 Net income 7,260 Dividends to common stockholders 390 600 Net income added to retained earnings 6,870 6,960 Beginning retained earnings 37,600 30,640 Ending retained earnings $44,470 $37,600 7,560 Working capital. (Enter your answer in thousands) Working capital Current ratio. (Round your answer to 2 decimal places.) Current ratio Acid-test ratio. (Round your answer to 2 decimal places.) Acid-test ratio