Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear...
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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 stock during the year. A total of 860,000 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 $21. 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 Current liabilitions. Accounts payable Liabilities and Stockholders' Equity Accrued liabilities. Notes payable, short term Total current liabilities Long-term liabilities Bonds payable Total liabilition Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital This Year Last Year $ 976 $1,920 15,000 10,050 10,000 8,440 1,860 2,220 27,036 22,630 6,600 6,600 19,000 19,600 26,400 26,200 $ 54,236 $ 48,830 $ 10,100 720 $ 0,600 1,000 360 360 11,100 9,960 6,250 6,250 17,430 16,210 860 660 4,500 4,500 5.360 31,446 5,360 27,260 Retained earnings Total stockholders' equity 36,006 32,620 Total liabilities and stockholders' equity $54,236 $ 48,8301 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 860,000 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 $21. 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 Current liabilitions. Accounts payable Liabilities and Stockholders' Equity Accrued liabilities. Notes payable, short term Total current liabilities Long-term liabilities Bonds payable Total liabilition Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital This Year Last Year $ 976 $1,920 15,000 10,050 10,000 8,440 1,860 2,220 27,036 22,630 6,600 6,600 19,000 19,600 26,400 26,200 $ 54,236 $ 48,830 $ 10,100 720 $ 0,600 1,000 360 360 11,100 9,960 6,250 6,250 17,430 16,210 860 660 4,500 4,500 5.360 31,446 5,360 27,260 Retained earnings Total stockholders' equity 36,006 32,620 Total liabilities and stockholders' equity $54,236 $ 48,8301
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