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 800,000 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 lest year and $0.40 this year. The market value of the company's common stock at the end of this year was $18. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current asseta Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $1,280 $1,560 12,300 9,100 9.700 8,200 1,800 2,100 25,000 20,960 Property and equipments Land 6,000 6,000 Buildings and equipment, net 19,200 19,000 Total property and equipment 25,200 25,000 Total assets $50,280 $45,960 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $9,500 $9,300 Accrued liabilities 600 700 Notes payable, short term 300 300 Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock 10,400 9.300 5,000 5,000 15,400 14,300 800 800 Additional paid-in capital 4,200 4,200 Total paid-in capital 5,000 5,000 Retained earnings 29,080 26,660 Total stockholders' equity 34,880 31,660 Total liabilities and stockholders' equity $50,200 $45,960 Check my