Exercise 16-3 (Algo) Financial Ratios for Asset Management [LO16-3] 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 $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 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 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 $1,100 10,600 13,700 $1,300 8,300) 11,9001 250 670 26,150 22,170 10,200 10,200 49.626 38,094 59,826 40,294 $ 85,976 $ 70,464 $18,100 $ 20,400 980 300 830 300 21,680 19,230 8,600 30,200 ,600 27,830 600 600 4,000 4,000 4,600 4.600 51,096 38,034 55,696 42,634 $ 85,976 $ 70,464 Check my