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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
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 $29. 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: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current 11abilities: Accounts payable Accrued Xiabilities 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 Total stockholders equity Total liabilities and stockholders equity $1,160 $1,410 10,400 13,900 5,700 10,700 680 560 26, 140 19,370 9,200 9,200 46,758 43,954 55,958 53,154 $ 82,098 $ 72,524 $ 18,000 5 18,500 1.040 200 820 200 20,000 19,520 19,600 9,600 29,640 29.120 600 600 4,000 4,000 4,600 4,600 47,858 38,804 52,458 43,404 $ 82,098 $ 72,524
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