Question
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 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 last 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 thousanda) Assets Current assetes 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 Boods payable Total liabilities Stockholders' equity Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity To bilities and stockholders' equity This Year Laas Year $ 1,280 1.560 12,300 9,100 9,700 8,200 1,000 2,100 25,080 20,960 6,000 6.000 19,200 10,000 25,200 25,000 $50,200 545-960 $9,500 5.300 600 700 300 300 10,400 9.300 5,000 15,400 5,000 14,300 800 800 4,200 4,200 5,000 5,000 29,880 26,660 34,880 31,660 $50,280 $45,960 Prov 2 of 6 Next MacBouls All Save & Exit Submit Check my work
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