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 the year was $30. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands This Year Last Year $ 1,230 10,900 12,200 $ 1,380 8,100 11,600 550 21,630 600 24, 930 10,200 47,344 57,544 $82,474 10,200 39,832 50.032 $71,662 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 Stockholdere equity Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $18,800 970 300 20,070 $18,300 720 300 19,320 8,800 28.870 8.800 28, 120 600 4.000 4,600 49,004 53, 604 382,474 600 4,000 4,600 38.942 43,542 $71,662 Weller Corporation CATATA Statement And Rention Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $75,000 $64,000 Cost of goods sold 38,000 32,000 Gross margin 37,000 32,000 Selling and administrative expenses: Selling expenses 11,300 10,200 Administrative expenses 7,300 7,000 Total selling and administrative expenses 18,600 17,200 Net operating income 18,400 14,800 Interest expense 880 880 Net income before taxes 17,520 13,920 Income taxes 7,008 5,568 Net income 10,512 8,352 Dividends to common stockholders 450 450 Net income added to retained earnings 10,062 7,902 Beginning retained earnings 38,942 31,040 Ending retained earnings $49,004 $38, 942 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.) $ 17 1. Working capital 2. Current ratio 3. Acid-test ratio 0.57 1.57