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 $500,000$ 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$$s common stock at the end of this year was $$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 $ $1,090$ $ $1,220$

Accounts receivable, net $10,3008,300$

Inventory $13,30010,700$

Prepaid expenses $660680$

Total current assets $25,35020,900$

Property and equipment:

Land $11,00011,000$

Buildings and equipment, net $39,35535,620$

Total property and equipment $50,35546,620$

Total assets $ $75,705$ $ $67,520$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,600$ $ $18,100$

Accrued liabilities $1,080830$

Notes payable, short term $240240$

Total current liabilities $20,92019,170$

Long$-$term liabilities:

Bonds payable $9,5009,500$

Total liabilities $30,42028,670$

Stockholders' equity:

Common stock $500500$

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

Total paid$-$in capital $4,5004,500$

Retained earnings $40,78534,350$

Total stockholders' equity $45,28538,850$

Total liabilities and stockholders' equity $ $75,705$ $ $67,520$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $67,000$ $ $64,000$

Cost of goods sold $37,00040,000$

Gross margin $30,00024,000$

Selling and administrative expenses:

Selling expenses $10,80010,700$

Administrative expenses $6,9007,000$

Total selling and administrative expenses $17,70017,700$

Net operating income $12,3006,300$

Interest expense $950950$

Net income before taxes $11,3505,350$

Income taxes $4,5402,140$

Net income $6,8103,210$

Dividends to common stockholders $375200$

Net income added to retained earnings $6,4353,010$

Beginning retained earnings $34,35031,340$

Ending retained earnings $ $40,785$ $ $34,350$

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.$)$