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 600,000 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 $28. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,170 9,500 13,700 650 25,020 $ 1,230 8,200 11,200 640 21,270 9,700 45,680 55,380 $80,400 9,700 40, 080 49, 780 $71,050 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 $20,000 1,060 220 21,280 $18,800 710 220 19,730 8,000 29, 280 8,000 27,730 600 4,000 4,600 600 4,000 4,600 Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4,600 46,520 51,120 $80,400 4,600 38,720 43,320 $71,050 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $71,000 $64,000 Cost of goods sold 39,000 33,000 Gross margin 32,000 31,000 Selling and administrative expenses: Selling expenses 10,700 10,700 Administrative expenses 6,500 6,200 Total selling and administrative expenses 17,200 16,900 Net operating income 14,800 14,100 Interest expense 800 800 Net income before taxes 14,000 13,300 Income taxes 5,600 5,320 Net income 8,400 7,980 Dividends to common stockholders 600 600 Net income added to retained earnings 7,800 7,380 Beginning retained earnings 38,720 31,340 Ending retained earnings $46,520 $38,720 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 $ 3,740 2. Current ratio 1.18 3. Acid-test ratio