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 $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $28. 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 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 Total liabilities and stockholders' equity This Year Last Year $ 1,160 10,000 13,000 $ 1,330 7,500 10,900 570 720 24,880 20,300 10,600 10,600 44,397 39,096 54,997 49,696 $ 79,877 $ 69,996 $18,600 950 $ 19,000 890 170 170 19,720 20,060 9,400 29,120 9,400 29,460 500 500 4,000 4,000 4,500 4,500 46,257 36,036 50,757 40,536 $ 79,877 $ 69,996 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 71,000 35,000 Last Year $ 65,000 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes 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 38,000 36,000 27,000 10,800 10,900 6,600 6,500 17,400 17,400 18,600 9,600 940 940 17,660 8,660 7,064 3,464 10,596 5,196 375 200 10,221 36,036 $ 46,257 4,996 31,040 $ 36,036