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 $29. All of the company's sales are on account This Year East Year $ 1,260 10,700 13,900 600 26,460 $ 1,250 8,100 11,500 56e 21, 410 11,80 36,389 Welter Corporation Comparative Balance Sheet (dollars in thousands) 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 liabilitiest Accounts payable Accrued abilities Notes payable short term Total current liabilities Long-term Liabilities: Bords payable Total Liabilities Stockholders' equity! Connon stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity 11.000 41,678 5278 $79,130 $18,700 930 110 19,740 $18, 100 890 110 19,100 B.100 27200 3,100 27,840 500 500 1.000 4,500 45,798 51.298 5,00 4,500 37,099 Total liabilities and stockholders' equity $79,138 $68, 799 Welter Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $72,000 $65,000 Cost of goods sold 36,000 37,000 Gross margin 36,000 28,000 Selling and administrative expenses: Selling expenses 11,300 Administrative expenses 10,200 7.100 6,600 Total selling and administrative expenses 18,400 16,800 Net operating income 17,600 11,280 Interest expense 810 810 Net Income before taxes 16,790 10,390 Income taxes 6,716 4,156 Net income 10,074 6,234 Dividends to common stockholders 375 375 Net Income added to retained earnings 9,699 5.859 Beginning retained earnings 37,099 31,240 Ending retained earnings 546,798 $37,099 Required: Compute the following financial data and ratios for this year: 1. Working capital. (Enter 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