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 700,000 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 the year was $29. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,250 10,200 13,800 790 26,840 $ 1,300 7,200 11,500 560 20,560 10,400 42,722 53,122 $79,162 10,400 39,556 49,956 $70,516 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 tern Total current liabilities Long-tern 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 $18, 200 700 $18,700 1,080 110 19,890 110 19,010 8,900 28,790 8,900 27,910 700 4,000 4,700 45,672 50,372 $79,162 700 4,000 4,700 37,906 42,606 $70,516 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $68,000 $65,000 Cost of goods sold 35,000 35,000 Gross margin 33,000 30,000 Selling and administrative expenses: Selling expenses 11,500 11,000 Administrative expenses 6,500 6,000 Total selling and administrative expenses 18,000 17,000 Net operating income 15,000 13,000 Interest expense 890 890 Net income before taxes 14, 110 12, 110 Income taxes 5,644 Net income 4,844 8,466 Dividends to common stockholders 7,266 700 700 110 19,890 110 19,010 F 8,900 28,790 8,900 27,910 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 700 4,000 4,700 45,672 50,372 $79,162 700 4,000 4,700 37,906 42,606 $70,516 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $68,000 $65,000 Cost of goods sold 35, eee 35,000 Gross margin 33,000 30,000 Selling and administrative expenses: Selling expenses 11,500 11,000 Administrative expenses 6,500 6,000 Total selling and administrative expenses 18,000 17,000 Net operating income 15,000 13,000 Interest expense 890 890 Net income before taxes 14, 110 12,110 Income taxes 5,644 4,844 Net income 8,466 7,266 Dividends to common stockholders 700 700 Net income added to retained earnings 7,766 6,566 Beginning retained earnings 37,906 31,340 Ending retained earnings $45,672 $37,906 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 2. Current ratio 3. Acid-test ratio