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 $21. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,160 10,300 13,700 790 25,950 $ 1,370 8,300 11,100 540 21,310 11,000 44,448 55,448 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: 11,000 40,064 51,064 $72,374 $81, 398 $ 19,300 1,080 270 20,650 $19, 100 740 270 20,110 9,600 30, 250 9,600 29,710 Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 600 4,000 4,600 46,548 51,148 $81,398 600 4,000 4,600 38,064 42,664 $72,374 Last Year $65,000 35,000 30,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $72,000 Cost of goods sold 39,000 Gross margin 33,000 Selling and administrative expenses: Selling expenses 10,600 Administrative expenses 6,800 Total selling and administrative expenses 17,400 Net operating income 15,600 Interest expense 960 Net income before taxes 14,640 Income taxes 5,856 Net income 8,784 Dividends to common stockholders 300 Net income added to retained earnings 8,484 Beginning retained earnings 38,064 Ending retained earnings $46,548 10,500 6,500 17,000 13,000 960 12,040 4,816 7,224 300 6,924 31,140 $38,064 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