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 600,000 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 $20. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: $ 1,100 10,000 13,400 620 $ 1,250 6,600 10,800 500 25,120 19,150 Land 10,300 10,300 Buildings and equipment, net 44,246 39,130 Total property and equipment 54,546 49,430 Total assets $ 79,666 $ 68,580 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term $ 19,600 1,080 280 $ 19,200 720 280 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 20,960 20,200 8,500 8,500 29,460 28,700 600 600 4,000 4,000 4,600 4,600 45,606 35,280 50,206 39,880 Total liabilities and stockholders' equity $ 79,666 $ 68,580