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please answer tonight if possible!!!! Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below The company did
please answer tonight if possible!!!!
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 700.000 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 $075 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 $ 1,150 10,300 13,300 710 25,460 $ 1,260 7,600 11,000 660 20,520 10,000 48,487 58,487 $ 83,947 10,000 40,276 50,276 $ 70,796 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 $ 19, 200 920 260 20,380 $ 18,400 800 260 19,460 8,400 28,780 8,900 27,5/60 700 4,000 4,700 50,467 55,167 $ 83,947 700 4 , 4,700 38,236 42,936 $ 70,796 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Yean Sales $ 75,000 $ 66,000 Cost of goods sold 35,000 35,000 Gross margin 40,000 31,000 Selling and administrative expenses: Selling expenses 11,200 10,300 Administrative expenses 6,700 6,900 Total selling and administrative expenses 17,900 17,200 Net operating income 22,100 13,800 Interest expense 840 840 Net income before taxes 21,260 12,960 Income taxes 8,504 5,184 Net income 12,756 7,776 Dividends to common stockholders 525 280 Net income added to retained earnings 12,231 7,496 Beginning retained earnings 38,236 30,740 Ending retained earnings $ 50,467 $ 38,236 Renuired. 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 Step by Step Solution
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