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 $27. 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 Weller Corporation Comparative Balance Sheet (dollars in thousands) 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: Common stock Additional paid-in capital Total paid-in capital Retained earnings This Year Last Year $ 1,150 10,000 13,400 $ 1,340 7,600 12,000 750 620 25,300 21,560 10,700 10,700 40,716 34,408 51,416 45,108 $ 76,716 $ 66,668 $ 19,400 1,080 170 Total stockholders' equity Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and 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.) $ 17,500 870 170 20,650 8,200 28,850 18,540 8,200 26,740 600 600 4,000 4,000 4,600 4,600 43,266 35,328 47,866 39,928 $ 76,716 $ 66,668 This Year $ 74,000 Last Year $ 64,000 41,000 38,000 33,000 26,000 11,100 10,200 7,100 6,600 18,200 16,800 14,800 9,200 820 820 13,980 8,380 5,592 3,352 8,388 5,028 450 240 7,938 35,328 $ 43,266 4,788 30,540 $ 35,328