Exercise 13-2 Financial Ratios for Assessing Liquidity [L013-2] 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 000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value was 10%. The incom 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 $22. All of the company's sales are on account e tax rate was 40% and the dividend per share of common stock Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets Cash Accounts receivable, net Inventory Prepaid expenses S 1,080 1,390 9,000 7,300 13,400 11,800 670 750 Total current assets 24,230 21,160 Property and equipment 9,500 9,500 47,957 41,701 Land Buildings and equipment, net Total property and equipment Tolal assets Liabilities and Stockholders' Equity 57.457 51,201 $81,687 72.361 Accounts payable Accrued iabilities $18,800 $19,400 740 230 950 230 Notes payable, short torm Total current habilities Long-term liabilities Bonds payable 9,98020,370 9,4009,400 29,380 29,770 Total liabilities Stockholders equity Common stock 700 700 Additional paid-in capital 4,0004,000 4,7004 Total paid-in capital Retained earmings 4,700 47,60737,891 52,307 42,591 381,687 $72.361 Total stockholders equity Total liabilties and stockholders' equity Type here to search