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 $28. 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: This Year Last Year $ 1,220 10,300 12,200 760 24,480 $ 1,410 7,000 12,100 590 21,100 9,100 Land Buildings and equipment, net Total property and equipment Total assets Current Liabilities: Accounts payable Liabilities and Stockholders' Equity 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 44,429 53,529 $ 78,089 9,100 37,108 46,208 $ 67,308 $ 19,000 920 190 $ 18,600 710 190 20,110 19,500 9,2001 9,200 29,310 28,700 700 700 4,000 4,000 4,700 4,700 Retained earnings 43,999 33,908 Total stockholders' equity 48,699 38,608 Total liabilities and stockholders' equity $ 78,009 $ 67,388 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 $28. 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: This Year Last Year $ 1,220 10,300 12,200 760 24,480 $ 1,410 7,000 12,100 590 21,100 9,100 Land Buildings and equipment, net Total property and equipment Total assets Current Liabilities: Accounts payable Liabilities and Stockholders' Equity 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 44,429 53,529 $ 78,089 9,100 37,108 46,208 $ 67,308 $ 19,000 920 190 $ 18,600 710 190 20,110 19,500 9,2001 9,200 29,310 28,700 700 700 4,000 4,000 4,700 4,700 Retained earnings 43,999 33,908 Total stockholders' equity 48,699 38,608 Total liabilities and stockholders' equity $ 78,009 $ 67,388