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.)