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 $23. 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: $1,110 10,100 13,300 $1,250 7,300 12,100 793 500 25,300 21,150 Land 10,300 10,300 Buildings and equipment, net 40,030 Total property and equipment 50,330 Total assets $ 75,630 38,070 48, 378 $ 69,520 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 20,200 1,070 130 1 18,800 860 Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Sonds 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 Weller Corporation 130 21,400 19,790 9,500 30,908 9,see 29,298 600 600 4,000 4,000 4,608 4,600 40,130 35,630 44,738 40,230 $ 75,630 $ 69,520 Comparative Income Statement and Reconciliation (dollars in thousands) Common stock Additional paid-in capital Total paid-in capital Retained earnings 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 600 4,000 600 4,000 4,600 4,600 40,130 35,630 44,730 40,230 $ 75,630 $ 69,520 This Year Last Year $ 69,000 42,000 $ 65,000 38,000 27,000 27,000 10,800 10,900 7,000 $,600 17,800 9,200 17,500 9,500 958 950 8,250 8,55e 3,300 3,420 4,950 5,130 450 240 4,500 35,630 $ 40,130 4,890 30,740 $ 35,630