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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 500,000 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 $21. 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 liabilities: Accounts payable 6,900 10,600 $1,150 9,700 12,300 740 23,890 $1,270 680 19,450 9,900 48,097 57,997 9,900 43,016 52,916 $ 81,887 $19,900 $ 72,366 $18,700
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