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 $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $21. 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 $ 1,400 Accounts receivable, net 9,100 6,760 Inventory 13,000 11,7@@ Prepaid expenses 798 598 Total current assets 23,990 29,390 Property and equipment: Land 9,100 9,100 Buildings and equipment, net 43,265 46,980 Total property and equipment 52,365 58,860 Total assets $ 76,355 % 70,3%0 Liabilities and Stockholders' Equity Current liabilities: Accounts payable % 20,200 % 18,100 Accrued liabilities 1,87a@ 820 Notes payable, short term 290 250 Total current liabilities 21,568 19,210 Long-term liabilities: Bonds payable 1@,009 19,000 Total liabilities 31,560 29,210 Stockholders' equity: Commeon stock 700 7ee Additional paid-in capital 4,000 4,000 Total paid-in capital 4,700 4,788 Retained earnings 48,095 36,480 Total stockholders' equity 44,795 41,180 Total liabilities and stockholders' equity $ 76,355 $ 70,390 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses 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 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.) 1. Working capital 2. Current ratio 3. Acid-test ratio This Year $ 69,000 43,000 26,000 18,3060 7,308 18,160 7,900 1,000 6,900 2,760 4,140 525 3,615 36,480 408,095 Last Year $ 64,000 37,000 27,000 10,000 6,300 16,300 10,700 1,000 9,700 3,880 5,820 280 5,540 30,940 $ 36,420