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 $30. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) Book Hint 0 10 10 Print erences Assets Current assetar Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipments Land 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 Total stockholders' equity Total liabilities and stockholders' equity This Year Last Year $1,110 9,200 13,500 700 $1,220 0,100 12,300 690 24,510 22,310 10,000 10,000 40,401 37,028 59,201 40,620 503,791 $70,930 $ 20,000 1,040 100 $19,000 890 100 21,220 20,070 9,200 30,420 9,200 29,270 700 700 4,000 4,000 4,700 4,700 48,671 53,371 $ 83,791 36,968 41,668 $ 70,938 3 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2.5 points Sales Weller Corporation 48.671 53,371 $ 83,791 36,968 41,668 $ 70,938 Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 75,000 36,000 39,000 Last Year $ 66,000 Cost of goods sold 37,000 Gross margin 29,000 eBook Selling and administrative expenses Selling expenses 11,200 10,200 Administrative expenses 6,500 6,700 Total selling and administrative expenses 17,700 16,900 Hint Net operating income 21,300 12,100 Interest expense 920 920 Net income before taxes Income taxes 20,380 8,152 11,100 4,472 12,228 6,708 525 Print References 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 11,703 36,968 $40,671 280 6,428 30,540 $ 36,968