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 $28. All of the company's sales are on account weller Corporation Comparative Balance Sheet (dollars in thousands) 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 Liabilities and Stockholders Equity Current Liabilities: Accounts payable Accrued 11abilities Botes payable, short ten Total current liabilities Long-tere liabilities: Bonds payable This Year Last Year $1,230 9,700 $ 1,350 7,700 12.200 11,900 720 660 23,850 21,610 10,100 10,100 42,317 41,606 52.417 51,206 5.76,267 $73,316 $ 20,100 $19,100 1,030 810 200 200 21,330 20,130 9,900 9,900 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 Sales Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) 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: Net income Income taxes Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 9,900 31,230 9,908 30,010 500 500 4,000 4,000 4,500 4,500 40,537 45,037 $ 76,267 38,806 43,306 $ 73,316 This Year. Last Year $ 66,000 $ 64,000 43,000 33,000 23,000 31,000 11,200 10,000 7,300 6,400 18,500 16,400 4,500 14,600 990 990 3,510 13,610 1,404 5,444 2,106 8,166 375 200 1,731 38,806 $ 40,537 7,966 30,840 5 38,806) Total selling and administrative expenses Net operating incone 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 18,500 16,400 4,500 14,600 998 990 3,510 13,610 1,404 5,444 2,105 8,166 375 200 1,731 7,966 38,806 30,840 $ 40,537 5:38,806