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 900,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 12%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company's common stock at the end of the year was $23. All of the company's sales are on account Comparative Balance Sheet dollars in thousands) Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 240 510 15,400 10,250 0,200 8,600 1,900 2,300 Total current assets 27,740 21,660 Property and equipment: Land Buildings and equipment, net 7,000 7,000 20,200 20,000 27.200 27,000 $54,940 $48,660 Total property and equipmert Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term $10,500 8.800 800 1,200 400 400 Total current liabilities Long-term liabilities: 11,700 10,400 5,000 5,000 16,700 15,400 Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital 900 900 4,7004,700 Total paid-in capital Retained earnings 5,6005,600 32,640 27,660 38,240 33,260 $54,940 $48,660 Total stockholders' equity Total liabilities and stockholders' equity Comparative Income Statement and Reconciliation (dollars in thousands) 89,000 $84,000 57,000 53,000 Sales Cost of goods sold Gross margin Selling and administrative expe 32,000 31,000 Selling expenses 9,500 9,000 13,000 12,000 Total selling and administrative expenses2,50021,000 9,50010,000 Net operating income Interest expense 600 600 Net income before taxes Income taxes 8,900 9,400 3,5603,760 Net income Dividends to common stockholders 5,3405,640 360 675 Net income added to retained earnings Beginning retained earnings 4,980 4,965 27,66022,695 Ending retained earnings $32,640 $27,660 Required: Compute the following financial data for this year: 1. Gross margin percentage. (Round your percentage answer to 1 decimal place (ie.. 0.1234 should be entered as 12.3).) Gross margin percentage 2. Net profit margin percentage (Round your percentage answer to 1 decimal place (i.e., 0.124 should be entered as 12.3),) Net profit margin percentage 3. Return on total assets. (Round your percentage answer to 1 declmal place (I.e., 0.1234 should be entered as 12.3).) um on to 4. Return on equity. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).) Return on equity ReferenceseBook & Resources