Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear...
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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 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 $27. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 Accrued liabilities Notes payable, short term This Year Last Year $1,130 9,900 13,600 $ 1,390 6,700 10,900 620 560 25,250 19,550 11,000 11,000 43,815 37,973 54,815 48,973 $ 80,065 $ 68,523 $ 20,500 1,020 270 $ 17,600 840 270 > 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 $27. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 Accrued liabilities Notes payable, short term This Year Last Year $1,130 9,900 13,600 $ 1,390 6,700 10,900 620 560 25,250 19,550 11,000 11,000 43,815 37,973 54,815 48,973 $ 80,065 $ 68,523 $ 20,500 1,020 270 $ 17,600 840 270 >
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