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 bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock at the end of the year was $29. All of the company’s sales are on account.   Weller Corporation Comparative Balance Sheet (dollars in thousands)   This Year Last Year   Assets               Current assets:                  Cash $ 1,190   $ 1,280        Accounts receivable, net   10,300     7,100        Inventory   13,400     10,800        Prepaid expenses   750     600                   Total current assets   25,640     19,780                   Property and equipment:                  Land   9,000     9,000        Buildings and equipment, net   52,660     41,628                   Total property and equipment   61,660     50,628                   Total assets $ 87,300   $ 70,408                   Liabilities and Stockholders' Equity               Current liabilities:                  Accounts payable $ 19,500   $ 18,900        Accrued liabilities   900     860        Notes payable, short term   210     210                   Total current liabilities   20,610     19,970     Long-term liabilities:                  Bonds payable   9,700     9,700                   Total liabilities   30,310     29,670                   Stockholders' equity:                  Common stock   500     500        Additional paid-in capital   4,000     4,000                        Total paid-in capital   4,500     4,500          Retained earnings   52,490     36,238                   Total stockholders' equity   56,990     40,738                   Total liabilities and stockholders' equity $ 87,300   $ 70,408                     Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)   This Year Last Year   Sales $ 81,780   $ 64,000     Cost of goods sold   35,090     36,000                   Gross margin   46,690     28,000                   Selling and administrative expenses:               Selling expenses   11,200     10,200     Administrative expenses   7,100     7,000                   Total selling and administrative expenses   18,300     17,200                   Net operating income   28,390     10,800     Interest expense   970     970                   Net income before taxes   27,420     9,830     Income taxes   10,968     3,932                   Net income   16,452     5,898     Dividends to common stockholders   200     500                   Net income added to retained earnings   16,252     5,398     Beginning retained earnings   36,238     30,840                   Ending retained earnings $ 52,490   $ 36,238

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Chapter1: Financial Statements And Business Decisions
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I need help solving 1,2,4,5,&6 of this problem. I submitted this question earlier and 1 and 2 are incorrect. They said to submit another question for 4,5, and 6, but 1 and 2 were incorrect. Thanks for the help. The financial statements are below, and the question are on the screen shots.

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 bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock at the end of the year was $29. All of the company’s sales are on account.

 

Weller Corporation
Comparative Balance Sheet
(dollars in thousands)
  This Year Last Year
  Assets            
  Current assets:            
     Cash $ 1,190   $ 1,280  
     Accounts receivable, net   10,300     7,100  
     Inventory   13,400     10,800  
     Prepaid expenses   750     600  
             
  Total current assets   25,640     19,780  
             
  Property and equipment:            
     Land   9,000     9,000  
     Buildings and equipment, net   52,660     41,628  
             
  Total property and equipment   61,660     50,628  
             
  Total assets $ 87,300   $ 70,408  
             
  Liabilities and Stockholders' Equity            
  Current liabilities:            
     Accounts payable $ 19,500   $ 18,900  
     Accrued liabilities   900     860  
     Notes payable, short term   210     210  
             
  Total current liabilities   20,610     19,970  
  Long-term liabilities:            
     Bonds payable   9,700     9,700  
             
  Total liabilities   30,310     29,670  
             
  Stockholders' equity:            
     Common stock   500     500  
     Additional paid-in capital   4,000     4,000  
             
       Total paid-in capital   4,500     4,500  
       Retained earnings   52,490     36,238  
             
  Total stockholders' equity   56,990     40,738  
             
  Total liabilities and stockholders' equity $ 87,300   $ 70,408  
             
 

 

Weller Corporation
Comparative Income Statement and Reconciliation
(dollars in thousands)
  This Year Last Year
  Sales $ 81,780   $ 64,000  
  Cost of goods sold   35,090     36,000  
             
  Gross margin   46,690     28,000  
             
  Selling and administrative expenses:            
  Selling expenses   11,200     10,200  
  Administrative expenses   7,100     7,000  
             
  Total selling and administrative expenses   18,300     17,200  
             
  Net operating income   28,390     10,800  
  Interest expense   970     970  
             
  Net income before taxes   27,420     9,830  
  Income taxes   10,968     3,932  
             
  Net income   16,452     5,898  
  Dividends to common stockholders   200     500  
             
  Net income added to retained earnings   16,252     5,398  
  Beginning retained earnings   36,238     30,840  
             
  Ending retained earnings $ 52,490   $ 36,238  
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