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 shore 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 $26. All of the company's sales are on account Weller Corporation Comparative Balance Sheet Idollars in thousands This Year Last Year Assets Current assets: Cash $ 1,240 $1,300 Accounts receivable, net 9,380 8,480 Inventory 13,700 11,800 Prepaid expenses 760 680 Total current assets 25,000 22,182 Property and equipment: Land 10,900 10,900 Buildings and equipment, net 43,286 37 388 Total property and equipment 54,186 48,288 Total assets $ 79,186 $ 70,468 Liabilities and Stockholders' Equity Current liabilitiest Accounts payable 5 19,603 $ 18,500 Accrued liabilities 1,010 820 Notes payable, short term 150 150 Total current liabilities 20,760 19,470 Long-term Liabilities: Bonds payable 9, 700 9,700 Total liabilities 38,460 29, 170 Stockholders' equity: Connon stock 600 600 . HA 9,700 30,460 9,700 29, 170 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 600 4,000 4,600 44, 126 48,726 $ 79, 186 600 4,000 4,600 36,698 41,298 $ 70,468 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 74,000 $ 65,000 Cost of goods sold 42,000 36,000 Gross margin 32,000 29,000 Selling and administrative expenses: Selling expenses 11,400 10,900 Administrative expenses 6,500 6,800 Total selling and administrative expenses 17,900 17,700 Net operating income 14,100 11,300 Interest expense 970 970 Net income before taxes 13, 130 10,330 Income taxes 5,252 4,132 Net income 7,878 6,198 Dividends to common stockholders 450 240 Net income added to retained earnings 7,428 5,958 Beginning retained earnings 36,698 30,740 Ending retained earnings $ 44, 126 $ 36,698 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