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 600.000 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 $28. All of the company's sales are on account Meller 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 $1,270 9,400 12,900 630 $1,220 6,500 12,000 590 24.200 20,310 10,400 10,400 Buildings and equipment, net 44,754 49,822 Total property and equipment 5514 54,222 Total assete 579,334 $ 74,532 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity $ 19,600 1,040 0 $ 17,600 810 260 20,640 18,670 9,800 9,800 30,440 28,470 2,000 2,000 4,000 4,000 6,000 6,000 42,894 40,062 48,894 46,062 $ 79,334 $ 74,532 Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Sales Cost of goods sold Gross margin Selling expenses Selling and administrative expenses: This Year $ 67,000 43,000 Last Year $ 66,000 32,000 34,000 24,000 11,200 10,600 Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income Dividends to common, stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 6,700 6,300 17,900 16,900 6,100 17,100 980 980 5,120 16,120 2,048 6,448 3,072 9,672 240 450 2,832 40,062 $ 42,894 9,222 30,840 $ 40,062 Required: Compute the following financial ratios for this year. 1. Times interest earned ratio. 2. Debt-to-equity ratio. 3. Equity multiplier. (For all requirements, round your answers to 2 decimal places.) 1. Times interest earned ratio 2 Debt-to-equity ratio 3 Equity multiplier