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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
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 980,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, 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 $27.00. 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 liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: This Year Last Year $ 4,568 $ 5,440 16,200 9,150 10,600 8,920 1,980 2,460 33,348 25,970 7,800 7,800 21,000 20,800 28,800 28,600 $ 62,148 $ 54,570 1,600 480 $ 11,300 $ 9,200 960 480 12,748 11,280 8,750 8,750 21,490 20,030 980 980 5,100 5,100 6,080 6,080 34,578 28,460 40,658 34,540 Total liabilities and stockholders' equity $ 62,148 $ 54,570 Common stock Additional paid-in capital Total paid-in capital Retained earnings Total 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 This Year Last Year $ 97,000 $ 92,000 61,000 57,000 36,000 35,000 10,300 9,800 13,800 12,800 24,100 22,600 11,900 12,400 1,050 1,050 10,850 11,350 4,340 4,540 6,510 6,810 392 784 6,118 6,026 28,460 22,434 $ 34,578 $ 28,460 Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: Compute the following financial data for this year: 1. Earnings per share. (Round your answer to 2 decimal places.) 2. Price-earnings ratio. (Round your intermediate calculations and final answer to 2 decimal places.) 3. Dividend payout ratio. (Round your intermediate calculations and final answer to 2 decimal places.) 4. Dividend yield ratio. (Round your intermediate calculations and final answer to 2 decimal places.) 5. Book value per share. (Round your answer to 2 decimal places.) 1. Earnings per share 2. Price-earnings ratio 3. Dividend payout ratio 4. Dividend yield ratio 5. Book value per share % %
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