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 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 $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $28. All of the company's sales are on account. This Year Last Year $ 1,250 9,500 12,000 620 23, 370 $ 1,230 6,600 11,500 580 19,910 Wellor Corporation Comparative Balance Sheet (dollars in thousands) 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 motorkholders' equity 0,900 46,872 57, 272 $91, 142 10,900 40,846 51,746 $71,656 $18,900 960 120 19,980 $18,900 870 120 19,890 9.900 29,380 9.900 79,790 600 4.000 4,600 46,662 51, 262 600 4,000 4,600 37,266 41,166 Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4,000 4,600 46,662 51,262 $81, 142 4,000 4,600 37,266 41,866 $71,656 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands ) This Year Last Year Sales $74,000 $64,000 Cost of goods sold 39,000 35,000 Gross margin 35,000 29,000 Selling and administrative expenses : Selling expenses 11,200 10,300 Administrative expenses 6,400 6,600 Total selling and administrative expenses 17,600 16,900 Net operating income 17,400 12,100 Interest expense 990 990 Net income before taxes 16,510 11,110 Income taxes 6,564 4,444 Net income 9,846 6,666 450 240 Dividends to common stockholders Net income added to retained earnings 9, 396 6,426 37,266 30,840 Beginning retained earnings $ 46,662 $37,266 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.) 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