Comparative financial statements for Weller Corporation, a merchandising company, for the 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 bond payable 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 this year was $23. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable This Year Last Year $ 1,260 10,300 $ 1,390 8,000 12,500 12,600 770 520 24,830 22,510 11,000 11,000 40,988 39,974 51,988 50,974 $ 76,818 $ 73,484 $ 19,700 $ 19,000 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 970 820 270 20,940 270 20,090 9,100 30,040 9,100 29,190 600 600 4,000 4,000 4,600 4,600 42,178 39,694 46,778 44,294 Total liabilities and stockholders' equity $ 76,818 $ 73,484 Total liabilities and stockholders' equity $ 76,818 $ 73,484 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 67,000 $ 66,000 Cost of goods sold 43,000 34,000 Gross margin 24,000 32,000 Selling and administrative expenses: Selling expenses Administrative expenses 10,900 10,100 7,300 6,500 Total selling and administrative expenses 18,200 16,600 Net operating income 5,800 15,400 Interest expense 910 910 Net income before taxes 4,890 14,490 Income taxes 1,956 5,796 Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: Compute the following financial data and ratios for this year: 1. Working capital. (Enter your answer in thousands.) 2. Current ratio. (Round your answer to 2 decimal places.) 3. Acid-test ratio. (Round your answer to 2 decimal places.) 1. Working capital 2. Current ratio 3. Acid-test ratio 2,934 8,694 450 240 2,484 39,694 8,454 31,240 $ 42,178 $ 39,694