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 $500,000$ 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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$25.$ 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 $ $1,240$ $ $1,400$

Accounts receivable, net $9,0006,900$

Inventory $12,50011,300$

Prepaid expenses $720520$

Total current assets $23,46020,120$

Property and equipment:

Land $9,1009,100$

Buildings and equipment, net $46,75741,836$

Total property and equipment $55,85750,936$

Total assets $ $79,317$ $ $71,056$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $18,800$ $ $18,400$

Accrued liabilities $1,000900$

Notes payable, short term $160160$

Total current liabilities $19,96019,460$

Long$-$term liabilities:

Bonds payable $9,4009,400$

Total liabilities $29,36028,860$

Stockholders' equity:

Common stock $500500$

Additional paid$-$in capital $4,0004,000$

Total paid$-$in capital $4,5004,500$

Retained earnings $45,45737,696$

Total stockholders' equity $49,95742,196$

Total liabilities and stockholders' equity $ $79,317$ $ $71,056$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $67,000$ $ $66,000$

Cost of goods sold $34,00037,000$

Gross margin $33,00029,000$

Selling and administrative expenses:

Selling expenses $11,50010,600$

Administrative expenses $7,0006,700$

Total selling and administrative expenses $18,50017,300$

Net operating income $14,50011,700$

Interest expense $940940$

Net income before taxes $13,56010,760$

Income taxes $5,4244,304$

Net income $8,1366,456$

Dividends to common stockholders $375200$

Net income added to retained earnings $7,7616,256$

Beginning retained earnings $37,69631,440$

Ending retained earnings $ $45,457$ $ $37,696$

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.$)$