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$$s common stock at the end of this year was $$23.$ 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 $ $1,250$ $ $1,290$

Accounts receivable, net $9,9006,800$

Inventory $13,50011,500$

Prepaid expenses $690510$

Total current assets $25,34020,100$

Property and equipment:

Land $9,5009,500$

Buildings and equipment, net $40,31738,486$

Total property and equipment $49,81747,986$

Total assets $ $75,157$ $ $68,086$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,100$ $ $17,700$

Accrued liabilities $1,090810$

Notes payable, short term $110110$

Total current liabilities $20,30018,620$

Long$-$term liabilities:

Bonds payable $9,9009,900$

Total liabilities $30,20028,520$

Stockholders' equity:

Common stock $500500$

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

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

Retained earnings $40,45735,066$

Total stockholders' equity $44,95739,566$

Total liabilities and stockholders' equity $ $75,157$ $ $68,086$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $67,000$ $ $65,000$

Cost of goods sold $39,00039,000$

Gross margin $28,00026,000$

Selling and administrative expenses:

Selling expenses $10,50010,500$

Administrative expenses $6,9006,800$

Total selling and administrative expenses $17,40017,300$

Net operating income $10,6008,700$

Interest expense $990990$

Net income before taxes $9,6107,710$

Income taxes $3,8443,084$

Net income $5,7664,626$

Dividends to common stockholders $375200$

Net income added to retained earnings $5,3914,426$

Beginning retained earnings $35,06630,640$

Ending retained earnings $ $40,457$ $ $35,066$

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.$)$