3 14.28 points Skipped eBook Hint Print References 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 $24. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) Assets This Year Last Year Current assetas Cash Accounts receivable, net Inventory $1,350 6,500 $1,250 9,500 12,300 800 12,500 Prepaid expenses 700 23,850 21,050 Total current assets. Property and equipment: Land: 9,700 9,700 buildings and equipment, net Total property and equipment 45,340 39,940 55,040 49,640 Total assets $78,890 $70,690 Liabilities and Stockholders Equity Current liabilities: Accounts payable $ 20,400 $ 18,800 Accrued liabilities. 740 1,010 110 110 21,520 19,650 Notes payable, short term Total current liabilities Long-term liabilities: Sonds payable 8,000 8,000 29,526 27,650 Total liabilities Stockholders equity: 600 Common stock 600 4,000 4,000 Additional paid-in capital 4,600 4,600 Total paid-in capital. 44,779 38.440 Retained earnings 49,378 43,040 Total stockholders equity. $ 78,890 $70,690 Total liabilities and stockholders' equity ?? Next > Weller Corporation 1 of 5 # 3 14.28 points Skipped ellook Hint Print References Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expenne Set income before taxes Income taxes Net income Dividends to connon stockholders Net Income added to retained earnings Beginning retained earnings. Ending retained earninge 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 $78,890 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $72,000 42,000 30,000 10.900 7,000 17,900 12,100 00 11,300 4,520 6,700 450 6,330 38,440 $ 44,770 570,690 Last Year $ 65,000 35,000 30,000 10,700 6,600 17,300 12,700 800 11,900 4,740 7,140 240 6,900 31,540 $38,440