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 $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of the year was $21. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,180 9,700 13,700 670 25,250 $ 1,290 7,800 12,400 590 22,080 9,200 51,126 60,326 $85,576 9,200 39,043 48,243 $70,323 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $20,200 1,010 240 21,450 $18,300 890 240 19,430 8,200 29,650 8,200 27,630 500 4,000 4,500 51,426 55,926 $85,576 500 4,000 4,500 38,193 42,693 $70, 323 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 76,000 $65,000 Cost of goods sold 35,000 36,000 Gross margin 41,000 29,000 Selling and administrative expenses : Selling expenses 10,800 10,200 Administrative expenses 6,700 6,100 Total selling and administrative expenses 17,500 16,300 Net operating income 23,500 12,700 Interest expense 820 820 Net income before taxes 22,680 11,880 Income taxes 9,072 4,752 Net income 13,608 7,128 Dividends to common stockholders 375 375 Net income added to retained earnings 13, 233 6, 753 Beginning retained earnings 38,193 31,440 Ending retained earnings $51,426 $38,193 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