Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December $31$ appear below. The company did not issue any 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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$22.$ 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 $ $1,090$ $ $1,290$

Accounts receivable, net $9,2006,600$

Inventory $12,00011,400$

Prepaid expenses $670650$

Total current assets $22,96019,940$

Property and equipment:

Land $10,40010,400$

Buildings and equipment, net $47,05040,230$

Total property and equipment $57,45050,630$

Total assets $ $80,410$ $ $70,570$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,800$ $ $18,500$

Accrued liabilities $980870$

Notes payable, short term $120120$

Total current liabilities $20,90019,490$

Long$-$term liabilities:

Bonds payable $8,0008,000$

Total liabilities $28,90027,490$

Stockholders' equity:

Common stock $600600$

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

Total paid$-$in capital $4,6004,600$

Retained earnings $46,91038,480$

Total stockholders' equity $51,51043,080$

Total liabilities and stockholders' equity $ $80,410$ $ $70,570$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $71,000$ $ $64,000$

Cost of goods sold $38,00033,000$

Gross margin $33,00031,000$

Selling and administrative expenses:

Selling expenses $10,90010,200$

Administrative expenses $6,5006,700$

Total selling and administrative expenses $17,40016,900$

Net operating income $15,60014,100$

Interest expense $800800$

Net income before taxes $14,80013,300$

Income taxes $5,9205,320$

Net income $8,8807,980$

Dividends to common stockholders $450240$

Net income added to retained earnings $8,4307,740$

Beginning retained earnings $38,48030,740$

Ending retained earnings $ $46,910$ $ $38,480$

Required:

Compute the following financial data and ratios for this year:

Working capital.

Note: Enter your answer in thousands.

Current ratio.

Note: Round your answer to $2$ decimal places.

Acid$-$test ratio.

Note: Round your answer to $2$ decimal places.