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 600,000 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) This Year Last Year 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 Current liabilities: Liabilities and Stockholders' Equity Accounts payable Accrued liabilities $ 1,130 10,700 $ 1,380 7,000 12,500 11,800 730 540 25,060 20,720 10,200 10,200 43,984 40,232 54,184 50,432 $ 79,244 $ 71,152 $ 18,600 1,060 $ 17,800 860 Notes payable, short term 170 170 Total current liabilities Long-term liabilities: 19,830 18,830 Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital 8,300 8,300 28,130 27,130 600 600 4,000 4,000 4,600 4,600 Retained earnings 46,514 39,422 Total stockholders' equity 51,114 44,022 Total liabilities and stockholders' equity $ 79,244 $ 71,152 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 66,000 Last Year $ 65,000 Cost of goods sold 34,000 33,000 Gross margin 32,000 32,000 Selling and administrative expenses: Selling expenses 11,300 10,300 Administrative expenses 7,300 6,000 Total selling and administrative expenses 18,600 16,300 Net operating income 13,400 15,700 Interest expense 830 830 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 12,570 14,870 5,028 5,948 7,542 8,922 450 7,092 240 8,682 39,422 30,740 $ 46,514 $ 39,422