Common stock Additional paid-in capital Total paid-in capital Retained earnings 800 800 4,200 4,200 5,000 5,000 29,880 26,660 Total stockholders' equity 34,880 31,660 Total liabilities and stockholders' equity $ 50,280 $ 45,960 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Gross margin Selling and administrative expenses: Selling expenses Administrative expenses This Year Sales Cost of goods sold $ 79,000 Last Year $ 74,000 52,000 48,000 27,000 26,000 8,500 8,000 12,000 11,000 Total selling and administrative expenses 20,500 19,000 6,500 7,000 600 600 5,900 6,400 2,360 2,560 3,540 3,840 320 600 Net operating income Interest expense Net income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: 3,220 26,660 $ 29,880 3,240 23,420 $ 26,660 Compute the following financial data and ratios for this year: 1. Working capital. Required: Compute the following financial data and ratios for this year: 1. Working capital. Note: Enter your answer in thousands. 2. Current ratio. Note: Round your answer to 2 decimal places. 3. Acid-test ratio. Note: 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 common stock during the year. A total of 800,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, 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 $18. All of the company's sales are on account. 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: This Year Last Year $ 1,280 $ 1,560 12,300 9,100 9,700 8,200 1,800 2,100 25,080 20,960 6,000 6,000 19,200 19,000 25,200 25,000 $ 50,280 $ 45,960 $ 9,500 600 300 $ 8,300 700 300 10,400 9,300 5,000 5,000 15,400 14,300