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 bonds, which were sold at their face value, 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 the year was $24. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year 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 $ 1,140 10,300 12,800 780 25,020 $ 1,320 7,000 11,700 620 20,640 10,600 47,402 58,002 $83,022 10,600 42,336 52,936 $73,576 $19,500 950 280 20,730 $19,000 740 280 20,020 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 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 8,900 29,630 8,900 28,920 600 4,000 4,600 48,792 53,392 $83,022 600 4,000 4,600 40,056 44,656 $73,576 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands ) This Year Last Year Sales $70,000 $66,000 Cost of goods sold 36,000 33,000 Gross margin 34,000 33,000 Selling and administrative expenses: Selling expenses 10,500 10,800 Administrative expenses 7,300 6,200 Total selling and administrative expenses 17,800 17,000 Net operating income 16, 200 16,000 Interest expense 890 Net income before taxes 15,310 15,110 Income taxes 6,124 6,044 Net income 9,186 9,066 Dividends to common stockholders 450 450 Net income added to retained earnings 8,736 8,616 Beginning retained earnings 40,056 31,440 Ending retained earnings $48,792 $40,056 890 1. Working capital. 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