Exercise 15-3 Financial Ratios for Asset Management [LO15-3] 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 600,000 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 this year was $28. 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 Total current assets $ 1,090 10,700 $ 1,320 6,500 12,800 10,900 790 540 25,380 19,260 Property and equipment: Land 9,000 9,000 Buildings and equipment, net 47,269 41,122 Total property and equipment 56,269 50,122 Total assets $81,649 $69,382 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $19,500 $17,600 Accrued liabilities: 950 720 Notes payable, short term 160 160 Total current liabilities 20,610 18,480 Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock 9,800 30,410 9,800 28,280 600 600 Ret