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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$21.$ 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 $ $1,100$ $ $1,260$

Accounts receivable, net $9,1006,600$

Inventory $13,60011,600$

Prepaid expenses $710520$

Total current assets $24,51019,980$

Property and equipment:

Land $9,5009,500$

Buildings and equipment, net $38,18036,910$

Total property and equipment $47,68046,410$

Total assets $ $72,190$ $ $66,390$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,200$ $ $17,800$

Accrued liabilities $940770$

Notes payable, short term $240240$

Total current liabilities $20,38018,810$

Long$-$term liabilities:

Bonds payable $9,0009,000$

Total liabilities $29,38027,810$

Stockholders' equity:

Common stock $600600$

Additional paid$-$in capital $4,0004,000$

Total paid$-$in capital $4,6004,600$

Retained earnings $38,21033,980$

Total stockholders' equity $42,81038,580$

Total liabilities and stockholders' equity $ $72,190$ $ $66,390$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $67,000$ $ $65,000$

Cost of goods sold $40,00041,000$

Gross margin $27,00024,000$

Selling and administrative expenses:

Selling expenses $11,30011,000$

Administrative expenses $7,0006,300$

Total selling and administrative expenses $18,30017,300$

Net operating income $8,7006,700$

Interest expense $900900$

Net income before taxes $7,8005,800$

Income taxes $3,1202,320$

Net income $4,6803,480$

Dividends to common stockholders $450240$

Net income added to retained earnings $4,2303,240$

Beginning retained earnings $33,98030,740$

Ending retained earnings $ $38,210$ $ $33,980$

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.$)$