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 950,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.40. The market value of the companys common stock at the end of the year was $25.50. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash 770 1,810 unts receivable, net 15.900 9.000 8,800 nventory 10,450 2,400 Prepaid expenses 1.950 Total current assets 29.070 22,010 Property and equipment: 7.500 7.500 Land Buildings and equipment, net 20,700 20,500 Total property and equipment 28.200 28,000 Total assets $57,270 $50,010 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 11,000 9,050 1,450 Accrued liabilities 900 Notes payable, short term 450 450 Total current liabilities 12,350 10,950 Long-term liabilities: Bonds payable 5.000 5.000 17.350 15.950 Total liabilities Stockholders' equity: Common stock 950 950 Additional paid-in capital 4,950 4,950 Total paid-in capital 5.900 5.900 Retained earnings 34,020 28,160 Total stockholders' equity 39,920 34,060 Total liabilities and stockholders' equity $57,270 $50,010