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just need help with the ACID test. not sure what im missing.. 2 Comparative Balance sheet (dollars in thousands) This Year Last Year nts $

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just need help with the ACID test. not sure what im missing..

2 Comparative Balance sheet (dollars in thousands) This Year Last Year nts $ 1,160 10,800 12,100 630 24,690 $ 1,260 6,800 11,300 510 19,870 3 03:02:30 10,400 47,164 57,564 $82,254 10,400 40,672 51,072 $70,942 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 $ 20,400 990 270 21,660 $18,300 730 270 19,300 9,300 30,960 9,300 28,600 600 4,000 4,600 46,694 51, 294 $82,254 600 4,000 4,600 37, 742 42,342 $70,942 Last Year $65.000 35,000 30.000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 74,000 Cost of goods sold 39,000 Gross margin 35,000 Selling and administrative expenses: Selling expenses 11,400 Administrative expenses 7,000 Total selling and administrative expenses 18,400 Net operating income 16,600 Interest expense 930 Net income before taxes 15,670 Income taxes 6,268 Net income 9,402 Dividends to common stockholders 450 Net income added to retained earnings 8,952 Beginning retained earnings 37, 742 Ending retained earnings $46,694 10.100 6,900 17.000 13,000 930 12.070 4.828 7.242 240 7.002 30,740 $ 37,742 Me Graw Hill Required: Compute the following financial data and ratios for this year: 1. Working capital. (Enter your answer in thousands.) 2. Current ratio. (Round your answer to 2 decimal places.) 3. Acid-test ratio. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. 1. 2. Working capital Current ratio Acid-test ratio S 3.030 1.13 13,260.50 3

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