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 800,000 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 $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of the year was $18. All of the company's sales are on account. Weller Corporat on Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets 1,280 1,560 Cash Accounts receivable, net 2.300 9,100 Inventory 9,700 8.200 Prepaid expenses 800 2,100 Total current assets 25,080 20,960 Property and equipment Land 6.000 6.000 Buildings and equipment, net 19,200 19,000 Total property and equipment 25.200 25,000 Total assets $50,280 $45,960 Liabilities and Stockholders' Equity Current liabilities 9,500 8,300 Accounts payable Accrued liabilities 700 Notes payable, short term 300 300 Total current liabilities 0,400 9,300 Long-term liabilities Bonds payable 5.000 5.000 Total liabilities 15,400 4,300 Stockholders' equity Common stock 800 800 Additional paid-in capital 4.200 4,200 Total paid-in capital 5,000 5,000 Retained earnings 29.880 26,660 Total stockholders' equity 34,880 31,660 Total liabilities and stockholders' equity $50,280 $45,960