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 $1.25 last year and $0.90 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 Assets Current assets Cash Accounts receivable, net Inventory Prepaid expenses $ 1,110 $ 1,290 6,600 12.500 12,100 550 10,100 750 Total current assets 24,460 20,540 Property and equipment: Land 10.900 10,900 Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity 44,875 39,485 55,77550,385 $80,235 $70,925 Current liabilities Accounts payable Accrued liabilities $19,400 $18,500 860 190 960 S 190 Notes payable, short term 20,550 19,550 10,000 10,000 30,550 29,550 Total current liabilities Long-term liabilities Bonds payable otal liabilities Stockholders' equity 500 4,000 500 Common stock Additional paid-in capital 4,000 Total paid-in capital Retained earnings 4,500 4,500 45,185 36,875 49,685 41,375 $80,235 $70,925 Total stockholders' equity Total liabilities and stockholders' equity