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 980,000 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 $0.40. The market value of the company's common stock at the end of the year was $27.00. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: 4,568 5,440 Cash Accounts receivable, net 16.200 9,150 Inventory 10,600 8.920 Prepaid expenses 1.980 2,460 Total current assets 33,348 25.970 Property and equipment: Land 7.800 7.800 Buildings and equipment, net 21.000 20,800 Total property and equipment 28.800 28.600 Total assets $62,148 $54,570 Liabilities and Stockholders' Equity Current liabilities 11,300 9,200 Accounts payable Accrued liabilities 960 1.600 Notes payable, short term 480 480 Total current liabilities 12,740 11.280 Long-term liabilities: 8,750 8,750 Bonds payable Total liabilities 21.490 20,030 Stockholders' equity: Common stock 980 980 Additional paid-in capital 5.100 5.100 Total paid-in capital 5.080 5.080 Retained earnings 34,578 28.460 Total stockholders' equity 40,658 34,540