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 $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $27. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,290 7,300 $ 1,170 10,200 12,300 740 24,410 12,600 540 21,730 9,100 44,611 53,711 $78,121 9,100 36, 238 45,338 $67,068 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 $20,000 1,070 230 21,300 $17,800 770 230 18,800 8,200 29,500 8,200 27,000 500 4,000 4,500 44, 121 48,621 $78, 121 500 4,000 4,500 35,568 40,068 $67,068 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $68,000 $65,000 Cost of goods sold 34,000 40,000 Gross margin 34,000 25,000 Selling and administrative expenses: Selling exnenses 19.900 19.790 Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4,500 44, 121 48,621 $78, 121 4,500 35,568 40,068 $67,068 Last Year $65,000 40,000 25,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $68,000 Cost of goods sold 34,000 Gross margin 34,000 Selling and administrative expenses: Selling expenses 10,900 Administrative expenses 7,400 Total selling and administrative expenses 18,300 Net operating income 15,700 Interest expense 820 Net income before taxes 14,880 Income taxes 5,952 Net income 8,928 Dividends to common stockholders 375 Net income added to retained earnings 8,553 Beginning retained earnings 35,568 Ending retained earnings $44, 121 10,700 6,100 16,800 8,200 820 7,380 2,952 4,428 200 4,228 31,340 $35,568 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