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 $23. 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 $ 1,260 9,300 12,600 640 23,800 $ 1,390 8,300 12,300 690 22,680 9,800. 9,800 41,597 37,566 51,397 47,366 $ 75,197 $ 70,046 $18,800 970 100 $17,900 700 100 19,870 18,700 8,900 28,770 8,900 27,600 < Prev 5 of 7 Next > A Aa Gross margin Selling and administrative expenses: Total selling and administrative expenses. Sales Cost of goods sold Selling expenses 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 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands). This Year $ 69,000 42,000 Last Year $ 65,000 35,000 27,000 30,000 11,200 10,700 7,400 6,100 18,600 16,800 8,400 13,200 890 890 7,510 3,004 12,310 4,924 4,506 525 3,981 37,746 $ 41,727 7,386 280 7,106 30,640 $ 37,746 < Prev 5 of 7 Next >