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 700,000 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 $26. All of the company's sales are on account. Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 This Year Last Year $ 1,270 10,800 $ 1,320 13,300 630 8,100 11,900 700 26,000 22,020 10,000 10,000 42,291 37,798 52,291 $ 78,291 47,798 $ 69,818 $ 18,900 910 $ 18,700 830 250 250 20,060 19,780 8,700 8,700 28,760 28,480 700 700 4,000 4,000 4,700 4,700 44,831 36,638 49,531 41,338 $ 78,291 $ 69,818 Total stockholders' equity Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) 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 This Year $ 73,000 Last Year $ 65,000 40,000 38,000 33,000 27,000 10,700 10,600 6,900 6,400 17,600 17,000 15,400 10,000 870 870 14,530 9,130 5,812 3,652 8,718 5,478 525 280 8,193 36,638 5,198 31,440 $ 44,831 $ 36,638