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Transcribed image text: 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 $20. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,110 10.800 12,600 670 25.180 $ 1,290 7,200 11,600 620 20,710 9.300 44,924 54,224 $ 79,404 9,300 39.972 49.272 $ 69,982 Assets Current netist 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 Ilabilities Stockholders' equity Comon stock Additional paid-in capital $ 18,700 1,000 0 19,700 $ 10,200 780 280 19,260 9,300 29,000 9,300 28,560 2,000 4.000 2,000 4.000 #16 - Quiz 19,700 19, 260 9.300 29,000 9.300 28,560 Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equityi Comon stock Additional paid in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2,000 4,000 6,000 44,404 50,404 $ 79,404 2,000 4,000 6,000 35, 422 41,422 $ 69,982 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Tant Year Sales $ 74,000 $ 65,000 Coat of goods sold 40.000 40,000 Gross margin 34,000 25,000 Selling and administrative expenses Selling expenses 10,800 10,900 Administrative expenses 6,900 6,200 Total selling and administrative expenses 17,700 17, 100 Net operating income 16,300 7,900 Interest expense 930 Net income before taxes 15,370 6,970 Income taxes 6,148 2,788 Net Income 9, 222 4,182 Dividends to common stockholders 240 300 Net income added to retained earnings 8,982 3,882 Beginning retained earnings 35, 422 31,540 Ending retained earnings $ 44,404 $ 35, 422 930 Required: Compute the following financial ratios for this year: Required: Compute the following financial ratios for this year: 1. Times interest earned ratio. 2. Debt-to-equity ratio. 3. Equity multiplier (For all requirements, round your answers to 2 decimal places.) 1. Times interest eamed ratio 2. Debt-to-equity ratio 3. Equity multiplier