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 $21. 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: Buildings and equipment, net Land Total property and equipment Total assets Current liabilities: Accounts payable Liabilities and Stockholders' Equity Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities This Year Last Year $ 1,170 9,200 12,000 $1,400 7,500 12,300 700 530 23,070 21,730 10,300 10,300 49,361 40,968 59,661 51,268 $ 82,731 $ 72,998 $ 20,500 930 1401 $ 19,300 830 140 20,270 21,570 9,200 9,200 30,770 29,470 Stockholders' equity: Common stock 500 500 Additional paid-in capital. 4,000 4,000 Total paid-in capital 4,500 4,500 Retained earnings 47,461 39,028 ces COMU SLULK Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Comparative Income Statement and Reconciliation 200 300 4,000 4,000 4,500 4,500 47,461 39,028 51,961 43,528 $ 82,731 $ 72,998 Weller Corporation (dollars in thousands) This Year Last Year Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses $ 75,000 41,000 $ 65,000 33,000 34,000 32,000 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 11,100 10,600 7,300 6,500 18,400 17,100 15,600 14,900 920 920 14,680 13,980 5,872 5,592 8,808 8,388 375 200 8,433 39,028 8,188 30,840 $ 47,461 $ 39,028