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 $29. All of the company's sales are on account. Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 12,300 $ 1,270 10,900 $ 1,360 6,600 11,200 610 550 25,080 19,710 10,700 10,700 43,081 39,158 53,781 49,858 $ 78,861 $ 69,568 $ 19,800 910 $ 18,400 880 120 20,830 8,200 29,030 120 19,400 8,200 27,600 700 700 4,000 4,000 4,700 4,700 45,131 37,268 49,831 41,968 $ 78,861 $ 69,568 Sales Cost of goods sold Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 72,000 Last Year $ 64,000 39,000 35,000 Gross margin 33,000 29,000 Selling and administrative expenses: Selling expenses 11,500 10,400 Administrative expenses 6,700 6,600 Total selling and administrative expenses 18,200 17,000 Net operating income 14,800 12,000 Interest expense 820 820 Net income before taxes 13,980 11,180 5,592 4,472 8,388 6,708 525 280 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 7,863 37,268 $ 45,131 6,428 30,840 $ 37,268