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 bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.50. The market value of the company's common stock at the end of the year was $22. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: 1,230 1,240 Cash Accounts receivable, net 9,700 8,100 Inventory 13,300 11,600 Prepaid expenses 770 560 Total current assets 25,000 21,500 Property and equipment Land 10,600 10,600 Buildings and equipment, net 45,468 40,634 Total property and equipment 56,068 51,234 Total assets $81,068 $72,734 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $20,300 19,100 Accrued liabilities 970 750 Notes payable, short term 170 170 Total current liabilities 21,440 20,020 Long-term liabilities: Bonds payable 9,600 9,600 Total liabilities 31,040 29,620 Stockholders' equity Common stock 500 500 Additional paid-in capital 4,000 4,000 Total paid-in capital 4,500 4,500 Retained earnings 45,528 38,614 Total stockholders' equity 50,028 43,114 Total liabilities and stockholders' equity $81,068 $72,734