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Last Year $ 66,000 39,000 27,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 70,000 Cost of goods sold
Last Year $ 66,000 39,000 27,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 70,000 Cost of goods sold 38,000 Gross margin 32,000 Selling and administrative expenses: Selling expenses 10,700 Administrative expenses 7,000 Total selling and administrative expenses 17,700 Net operating income 14,300 Interest expense 990 Net income before taxes 13,310 Income taxes 5,324 Net income 7,986 Dividends to common stockholders 525 Net income added to retained earnings 7,461 Beginning retained earnings 36,926 Ending retained earnings $ 44,387 10,000 6,400 16,400 10,600 990 9,610 3,844 5,766 280 5,486 31,440 $ 36,926 tes 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.) 1. Working capital 2. Current ratio 3. Acid-test ratio Last Year $ 66,000 39,000 27,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 70,000 Cost of goods sold 38,000 Gross margin 32,000 Selling and administrative expenses: Selling expenses 10,700 Administrative expenses 7,000 Total selling and administrative expenses 17,700 Net operating income 14,300 Interest expense 990 Net income before taxes 13,310 Income taxes 5,324 Net income 7,986 Dividends to common stockholders 525 Net income added to retained earnings 7,461 Beginning retained earnings 36,926 Ending retained earnings $ 44,387 10,000 6,400 16,400 10,600 990 9,610 3,844 5,766 280 5,486 31,440 $ 36,926 tes 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.) 1. Working capital 2. Current ratio 3. Acid-test ratio
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