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 lost year and $0.40 this year. The market value of the company's common stock at the end of this year was $26. 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| $1,170 $ 1,230 Accounts receivable.net 10.100 6.700 Inventory 13,000 10.800 Prepaid expenses 630 560 Total current assets 24.900 19,290 Property and equipment Land 10,700 10,700 Huildings and equipoant, bet 42,010 45,794 Total property and equipment 50.518 56.2494 Total este $83,610 $75,704 Land stockholdere quity Current liabilities Accounts payable 920,400 hered abilities 319,000 1.030 830 Notes payable, short ter 0 290 Total current silities 21.430 Long-term liabilities 20,120 Bonds payable 9.00 3.600 total liabilities 31.030 stockholderitys 29.220 Common stock 2.000 Madil paid in capital 2,000 4.000 4,000 Total di capital 6,000 Standaarnings 6,000 Total stockholderity 46.209 40064 52,390 46.064 Total liabilities and stockholders' equity 575,784 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 lost year and $0.40 this year. The market value of the company's common stock at the end of this year was $26. 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| $1,170 $ 1,230 Accounts receivable.net 10.100 6.700 Inventory 13,000 10.800 Prepaid expenses 630 560 Total current assets 24.900 19,290 Property and equipment Land 10,700 10,700 Huildings and equipoant, bet 42,010 45,794 Total property and equipment 50.518 56.2494 Total este $83,610 $75,704 Land stockholdere quity Current liabilities Accounts payable 920,400 hered abilities 319,000 1.030 830 Notes payable, short ter 0 290 Total current silities 21.430 Long-term liabilities 20,120 Bonds payable 9.00 3.600 total liabilities 31.030 stockholderitys 29.220 Common stock 2.000 Madil paid in capital 2,000 4.000 4,000 Total di capital 6,000 Standaarnings 6,000 Total stockholderity 46.209 40064 52,390 46.064 Total liabilities and stockholders' equity 575,784
