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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$30.$ 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 $ $1,100$ $ $1,240$

Accounts receivable, net $9,1006,600$

Inventory $12,10012,000$

Prepaid expenses $740660$

Total current assets $23,04020,500$

Property and equipment:

Land $9,3009,300$

Buildings and equipment, net $47,51340,564$

Total property and equipment $56,81349,864$

Total assets $ $79,853$ $ $70,364$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $18,700$ $ $18,500$

Accrued liabilities $940870$

Notes payable, short term $130130$

Total current liabilities $19,77019,500$

Long$-$term liabilities:

Bonds payable $8,6008,600$

Total liabilities $28,37028,100$

Stockholders' equity:

Common stock $700700$

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

Total paid$-$in capital $4,7004,700$

Retained earnings $46,78337,564$

Total stockholders' equity $51,48342,264$

Total liabilities and stockholders' equity $ $79,853$ $ $70,364$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $74,000$ $ $64,000$

Cost of goods sold $39,00035,000$

Gross margin $35,00029,000$

Selling and administrative expenses:

Selling expenses $11,20010,100$

Administrative expenses $6,7006,700$

Total selling and administrative expenses $17,90016,800$

Net operating income $17,10012,200$

Interest expense $860860$

Net income before taxes $16,24011,340$

Income taxes $6,4964,536$

Net income $9,7446,804$

Dividends to common stockholders $525280$

Net income added to retained earnings $9,2196,524$

Beginning retained earnings $37,56431,040$

Ending retained earnings $ $46,783$ $ $37,564$

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.$)$