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 $25. All of the company's sales are on account. Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,130 10,900 $1,250 6,800 13,800 700 12,100 620 26,530 9,800 20,770 9,800 Liabilities and Stockholders' Equity Buildings and equipment, net Total property and equipment Total assets Current liabilities: Accounts payable Notes payable, short term 42,574 52,374 $ 78,984 $ 18,900 40,152 49,952 $ 70,722 $ 18,800 760 Accrued liabilities 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 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) 1,000 230 230 20,130 19,790 8,800 8,800 28,930 28,590 600 600 4,000 4,000 4,600 4,600 45,374 37,532 49,974 42,132 $ 78,984 $ 70,722 This Year Sales $ 74,000 Last Year $ 65,000 Cost of goods sold 42,000 35,000 Gross margin 32,000 30,000 Selling and administrative expenses: Selling expenses 10,600 10,500 Administrative expenses 6,700 6,900 Total selling and administrative expenses 17,300 17,400 Net operating income 14,700 12,600 Interest expense 880 880 Net income before taxes 13,820 5,528 8,292 450 11,720 4,688 7,032 240 Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 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 7,842 37,532 $ 45,374 6,792 30,740 $ 37,532