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 $22. All of the company's sales are on account woller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,160 9,100 13,200 730 24, 190 $ 1,210 6,900 11,700 540 20, 350 11,000 48.614 59,614 $ 83,804 11,000 40,512 51,512 $ 71, B2 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 llabilities Bonds payable Total liabilities Stockholders' equity Common stock Additional paid-in capital Total paid.in capital Betained earnings Total stockholders' equity $ 20,100 1,090 200 21,390 $ 19,300 820 200 20,320 9,300 30,690 9,300 29,620 600 4,000 4,600 48,514 53, 114 600 4.000 4,600 37.642 42,242 year and $0.40 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 $ 1,160 9,100 13, 200 730 24, 190 $ 1,210 6,900 11,700 540 20, 350 11,000 48,614 59,614 $ 83,804 11,000 40,512 51,512 $.71,862 Assets Current assetst 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 $ 20,100 1,090 200 21,390 $ 19,300 820 200 20,320 9,300 30,690 9,300 29,620 600 4,000 4.600 48,514 53, 114 $ 83,804 600 4,000 4,600 37,642 42,242 $71,862 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands rocal Stockho Laers equity Total liabilities and stockholders' equity 33, L1 $ 83, 804 42,42 $ 71,862 Last Year $ 65,000 36,000 29,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 75,000 Cost of goods sold 37,000 Gross margin 38,000 Selling and administrative expenses: Selling expenses 10,800 Administrative expenses 7,400 Total selling and administrative expenses 18,200 Net operating income 19,800 Interest expense 930 Net income before taxes 18,870 Income taxes 7,548 Net income 11,322 Dividends to common stockholders 450 Net income added to retained earnings 10,872 Beginning retained earnings 37,642 Ending retained earnings $ 48,514 Required: Compute the following financial data and ratios for this year: 10,100 6,900 17,000 12,000 930 11,070 4,428 6,642 240 6,402 31,240 $ 37,642 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
