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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 $24. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year	Last Year
Assets
Current assets:
Cash	$ 1,250	$ 1,290
Accounts receivable, net	10,600	7,200
Inventory	12,400	11,100
Prepaid expenses	730	530
Total current assets	24,980	20,120
Property and equipment:
Land	10,200	10,200
Buildings and equipment, net	40,856	38,828
Total property and equipment	51,056	49,028
Total assets	$ 76,036	$ 69,148
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 19,000	$ 19,300
Accrued liabilities	1,000	880
Notes payable, short term	190	190
Total current liabilities	20,190	20,370
Long-term liabilities:
Bonds payable	8,700	8,700
Total liabilities	28,890	29,070
Stockholders' equity:
Common stock	600	600
Additional paid-in capital	4,000	4,000
Total paid-in capital	4,600	4,600
Retained earnings	42,546	35,478
Total stockholders' equity	47,146	40,078
Total liabilities and stockholders' equity	$ 76,036	$ 69,148

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year	Last Year
Sales	$ 70,000	$ 66,000
Cost of goods sold	39,000	40,000
Gross margin	31,000	26,000
Selling and administrative expenses:
Selling expenses	10,600	10,400
Administrative expenses	7,000	6,600
Total selling and administrative expenses	17,600	17,000
Net operating income	13,400	9,000
Interest expense	870	870
Net income before taxes	12,530	8,130
Income taxes	5,012	3,252
Net income	7,518	4,878
Dividends to common stockholders	450	240
Net income added to retained earnings	7,068	4,638
Beginning retained earnings	35,478	30,840
Ending retained earnings	$ 42,546	$ 35,478

Required:

Compute the following financial data and ratios for this year:

Acid-test ratio. (Round your answer to 2 decimal places.)

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