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. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,230 10,200 12,500 690 24,620 $ 1,240 8,000 11,200 640 21,080 9,600 52,848 62,448 $87,068 9,600 44,094 53,694 $74,774 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: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $19,900 1,010 0 20,910 $19,100 900 250 20,250 9,100 30,010 9,100 29, 350 2,000 4,000 6,000 51,058 57,058 $87,068 2,000 4,000 6,000 39, 424 45,424 $74,774 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands ) This Year Last Year Sales $75,000 $66,000 Cost of goods sold 36,000 33,000 Gross margin 39,000 33,000 Selling and administrative expenses: Selling expenses 11,100 10,500 Administrative expenses 7,200 6,200 Total selling and administrative expenses 18,300 16,700 Net operating income 20,700 16,300 Interest expense 910 910 Net income before taxes 19,790 15,390 Income taxes 7,916 6,156 Net income 11,874 9,234 Dividends to common stockholders 240 450 Net income added to retained earnings 11,634 8,784 Beginning retained earnings 39,424 30,640 Ending retained earnings $51,058 $39,424 Required: Compute the following financial ratios for this year: 1. Times interest earned ratio. 2. Debt-to-equity ratio. 3. Equity multiplier. (For all requirements, round your answers to 2 decimal places.) & Answer is complete but not entirely correct. Times interest earned ratio Debt-to-equity ratio Equity multiplier 22.75 0.53 1.53 x