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 700,000 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 $22. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assetss Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $1,110 10,200 12,400 760 24,470 $1,260 6,600 10,700 580 19,140 Property and equipments Land 9,200 9,200 Buildings and equipment, net 45,103 42,244 Total property and equipment 54,303 51,444 Total assets $78,773 $70,584 Liabilities and Stockholders' Equity Current Liabilities Accounts payable Accrued liabilities: 520,300 $17,900 960 880 Hotes payable, short term 250 Total current liabilities 250 Long-term liabilities Bonde payable Total liabilities Stockholders' equity Common stock Additional paid-in capital Total paid-in capital Detained earnings 21,510 19,030 9,100 30,610 9,100 28,130 700 700 4,000 4,000 4,700 43,463 37,754 4,700 www < Prev 3 of 6 Next >