This Year Last Year $ 1,180 9,900 12, 100 $ 1,300 7,300 11,000 540 20,140 660 23, 840 Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 9,500 44,737 54,237 $ 78,077 9,500 42,656 52,156 $ 72,296 $ 20,000 1,100 300 21,400 $ 18,800 890 300 19,990 9,900 31,300 9,900 29,898 500 4,000 4,500 42,277 46,777 $ 78,077 500 4,000 4,500 37,906 42,406 $ 72,296 Last Year $ 65,000 35,000 30,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 68,000 Cost of goods sold 41,000 Gross margin 27,000 Selling and administrative expenses: Selling expenses 10,900 Administrative expenses 7,200 Total selling and administrative expenses 18, 100 Net operating income 8,900 Interest expense 990 Net income before taxes 7,910 Income taxes 3, 164 Net income 4,746 Dividends to common stockholders 375 Net income added to retained earnings 4,3 Beginning retained earnings 37,906 Ending retained earnings $ 42,277 10,900 6,500 17,400 12,600 990 11,610 4,644 6,966 200 6,766 31, 140 $ 37,906 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 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 500,000 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 $25. All of the company's sales are on account