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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$29.$ 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 $ $1,270$ $ $1,230$

Accounts receivable, net $9,0008,100$

Inventory $12,30011,700$

Prepaid expenses $740500$

Total current assets $23,31021,530$

Property and equipment:

Land $10,70010,700$

Buildings and equipment, net $41,83537,120$

Total property and equipment $52,53547,820$

Total assets $ $75,845$ $ $69,350$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,800$ $ $19,400$

Accrued liabilities $1,070840$

Notes payable, short term $250250$

Total current liabilities $21,12020,490$

Long$-$term liabilities:

Bonds payable $10,00010,000$

Total liabilities $31,12030,490$

Stockholders' equity:

Common stock $500500$

Additional paid$-$in capital $4,0004,000$

Total paid$-$in capital $4,5004,500$

Retained earnings $40,22534,360$

Total stockholders' equity $44,72538,860$

Total liabilities and stockholders' equity $ $75,845$ $ $69,350$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $68,000$ $ $64,000$

Cost of goods sold $39,00040,000$

Gross margin $29,00024,000$

Selling and administrative expenses:

Selling expenses $10,80010,800$

Administrative expenses $6,8006,000$

Total selling and administrative expenses $17,60016,800$

Net operating income $11,4007,200$

Interest expense $1,0001,000$

Net income before taxes $10,4006,200$

Income taxes $4,1602,480$

Net income $6,2403,720$

Dividends to common stockholders $375200$

Net income added to retained earnings $5,8653,520$

Beginning retained earnings $34,36030,840$

Ending retained earnings $ $40,225$ $ $34,360$

Required:

Compute the following financial data and ratios for this year:

$1.$ Working capital. $($Enter your answer in thousands.$)$

$2.$ Current ratio. $($Round your answer to $2$ decimal places.$)$

$3.$ Acid$-$test ratio. $($Round your answer to $2$ decimal places.$)$