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) 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 $ 1,280 9,800 13,700 $ 1,390 8,500 10,700 670 570 25,450 21,160 9,900 9,900 48,213 38,454 Total property and equipment 58,113 48,354 Total assets $ 83,563 $69,514 Liabilities and Stockholders' Equity Current liabilities: 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 $ 20,400 1,070 200 21,670 $ 18,400 730 200 19,330 8,600 30,270 8,600 27,930 500 500 4,000 4,000 4,500 4,500 48,793 53,293 $ 83,563 $ 69,514 37,084 41,584 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: This Year $ 75,000 36,000 39,000 Last Year $ 64,000 35,000 29,000 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.) 36,000 35,000 39,000 29,000 11,200 11,000 6,800 6,400 18,000 17,400 21,000 11,600 860 860 20,140 10,740 8,056 4,296 12,084 6,444 375 200 11,709 37,084 6,244 30,840 $ 48,793 $ 37,084