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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 companys common stock at the end of this year was $23. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands) This YearLast YearAssets Current assets: Cash$ 1,180$ 1,410Accounts receivable, net9,3006,700Inventory13,90010,600Prepaid expenses790670Total current assets25,17019,380Property and equipment: Land9,4009,400Buildings and equipment, net44,41238,776Total property and equipment53,81248,176Total assets$ 78,982$ 67,556Liabilities and Stockholders' Equity Current liabilities: Accounts payable$ 20,400$ 18,600Accrued liabilities1,000740Notes payable, short term200200Total current liabilities21,60019,540Long-term liabilities: Bonds payable8,4008,400Total liabilities30,00027,940Stockholders' equity: Common stock600600Additional paid-in capital4,0004,000Total paid-in capital4,6004,600Retained earnings44,38235,016Total stockholders' equity48,98239,616Total liabilities and stockholders' equity$ 78,982$ 67,556

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This YearLast YearSales$ 74,000$ 65,000Cost of goods sold39,00040,000Gross margin35,00025,000Selling and administrative expenses: Selling expenses11,20010,600Administrative expenses6,6006,700Total selling and administrative expenses17,80017,300Net operating income17,2007,700Interest expense840840Net income before taxes16,3606,860Income taxes6,5442,744Net income9,8164,116Dividends to common stockholders450240Net income added to retained earnings9,3663,876Beginning retained earnings35,01631,140Ending retained earnings$ 44,382$ 35,016

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.)

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