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 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 $1.00 last year and $0.65 this year. The market value of the companys common stock at the end of the year was $20. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year			Last Year
Assets
Current assets:
Cash	$	1,130		$	1,360
Accounts receivable, net		9,900			6,600
Inventory		13,400			11,000
Prepaid expenses		720			620
Total current assets		25,150			19,580
Property and equipment:
Land		10,200			10,200
Buildings and equipment, net		45,541			37,558
Total property and equipment		55,741			47,758
Total assets	$	80,891		$	67,338
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	18,600		$	18,800
Accrued liabilities		940			740
Notes payable, short term		180			180
Total current liabilities		19,720			19,720
Long-term liabilities:
Bonds payable		9,700			9,700
Total liabilities		29,420			29,420
Stockholders' equity:
Common stock		500			500
Additional paid-in capital		4,000			4,000
Total paid-in capital		4,500			4,500
Retained earnings		46,971			33,418
Total stockholders' equity		51,471			37,918
Total liabilities and stockholders' equity	$	80,891		$	67,338

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year			Last Year
Sales	$	76,000		$	65,000
Cost of goods sold		34,000			42,000
Gross margin		42,000			23,000
Selling and administrative expenses:
Selling expenses		11,000			10,000
Administrative expenses		6,900			6,900
Total selling and administrative expenses		17,900			16,900
Net operating income		24,100			6,100
Interest expense		970			970
Net income before taxes		23,130			5,130
Income taxes		9,252			2,052
Net income		13,878			3,078
Dividends to common stockholders		325			500
Net income added to retained earnings		13,553			2,578
Beginning retained earnings		33,418			30,840
Ending retained earnings	$	46,971		$	33,418

1.	Current ratio. (Round your answer to 2 decimal places.)

2.	Acid-test ratio. (Round your answer to 2 decimal places.)