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 companys common stock at the end of this year was $23. All of the companys sales are on account.

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.)

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 $23. 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 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 Weller Corporation Comparative Balance Sheet (dollars in thousands) Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity This Year $ 1,200 10,500 12,100 770 24,570 10,700 44,678 55,378 $ 79,948 $ 19,500 1,040 170 20,710 9,100 29,810 600 4,000 4,600 45,538 50,138 $ 79,948 Last Year $1,230 7,600 11,900 570 21,300 10,700 38,434 49,134 $ 70,434 $ 17,600 830 170 18,600 9,100 27,700 600 4,000 4,600 38,134 42,734 $70,434 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) 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.) 1. Working capital 2. Current ratio 3. Acid-test ratio This Year $ 71,000 39,000 32,000 11,400 6,600 18,000 14,000 910 13,090 5,236 7,854 450 7,404 38,134 $ 45,538 Last Year $ 66,000 35,000 31,000 10,800 6,400 17,200 13,800 910 12,890 5,156 7,734 240 7,494 30, 640 $ 38,134