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Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new

Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal 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 companys common stock at the end of the year was $29. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
This Year Last Year
Assets
Current assets:
Cash $ 1,100 $ 1,280
Accounts receivable, net 10,600 7,000
Inventory 13,300 10,700
Prepaid expenses 750 650
Total current assets 25,750 19,630
Property and equipment:
Land 10,600 10,600
Buildings and equipment, net 41,054 35,987
Total property and equipment 51,654 46,587
Total assets $ 77,404 $ 66,217
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 18,600 $ 17,700
Accrued liabilities 1,070 800
Notes payable, short term 140 140
Total current liabilities 19,810 18,640
Long-term liabilities:
Bonds payable 8,800 8,800
Total liabilities 28,610 27,440
Stockholders' equity:
Common stock 500 500
Additional paid-in capital 4,000 4,000
Total paid-in capital 4,500 4,500
Retained earnings 44,294 34,277
Total stockholders' equity 48,794 38,777
Total liabilities and stockholders' equity $ 77,404 $ 66,217
Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
This Year Last Year
Sales $ 71,000 $ 64,000
Cost of goods sold 35,000 40,000
Gross margin 36,000 24,000
Selling and administrative expenses:
Selling expenses 11,300 10,300
Administrative expenses 6,500 6,300
Total selling and administrative expenses 17,800 16,600
Net operating income 18,200 7,400
Interest expense 880 880
Net income before taxes 17,320 6,520
Income taxes 6,928 2,608
Net income 10,392 3,912
Dividends to common stockholders 375 375
Net income added to retained earnings 10,017 3,537
Beginning retained earnings 34,277 30,740
Ending retained earnings $ 44,294 $ 34,277
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.)

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