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Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new
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 870,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, 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 $21.50. All of the company's sales are on account. Assets Current assets: Cash Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 2,242 $ 3,130 10,100 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 15,100 10,050 1,878 8,480 2,248 29,262 23,950 6,700 6,700 19,900 19,700 26.600 26,400 $ 55,862 $ 50,350 $ 10,200 740 $ 8,658 1,ese 370 378 11,310 10,070 7,500 7,500 18,810 17,570 870 878 4,550 4,550 5,420 5,420 27,360 32,788 31,632 37,052 $ 55,862 $ 50,350 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year 5 86,000 $ 81,000 Sales Cost of goods sold. Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating Incose Interest expense Net Income before taxes. Income taxes Net incone Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: Compute the following financial data for this year. 55,500 30,500 51,500 29,500 9,200 8,700 12,708 11,700 21,900 20,400 8,600 9,100 900 7,700 900 8,200 3,088 3,200 4,620 4,920 348 4,272 27,360 $31,632 696 4,224 23,136 $27,360 1. Earnings per share. (Round your answer to 2 decimal places.) 2. Price-earnings ratio. (Round your intermediate calculations and final answer to 2 decimal places.) 3. Dividend payout ratio (Round your intermediate calculations and final answer to 2 decimal places.) 4. Dividend yield ratio. (Round your intermediate calculations and final answer to 2 decimal places.) 5. Book value per share. (Round your answer to 2 decimal places.)
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