2 Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appe

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2 Comparative Financial Statements For Weller Corporation A Merchandising Company For The Year Ending December 31 Appe 1 (32.35 KiB) Viewed 66 times

2 Comparative Financial Statements For Weller Corporation A Merchandising Company For The Year Ending December 31 Appe 2 (28.22 KiB) Viewed 66 times

2 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 $20. All of the company's sales are on account 2 points This Year Last Year 0 2001 $ 1.100 9,700 12.400 650 23.850 51.250 6.800 11.100 40 ACH 19,770 P Where Weller Corporation Comparative Balance sheet [dollars in thousands Assets Current anetar Cash Accounts receivable. net Inventory Prepaid expenses Total current assets Property and equipment: Land Muildings and equipment, bet Total property and equipment Total acts Liabilities and Stockholders' Equity Current liabilities Accounts payable hccrued liabilities Motos payable, short term Total current abilities Long-term liabilities: Bonds payable Total liabilities Stockholdera equity! Common toek Additional paid-in capital tal padin capital 9,100 46,660 5520 $ 79,610 9,100 37.460 46.560 5 66,330 $19.000 1.070 190 21.040 $ 18,700 740 190 19,630 9.000 23.610 29.040 600 5.000 4,600 600 4,000 4.500
2 RULLER Common stock Additional paid in capital Total paid-in capital Retained ning Total stockholders' equity Total liabilities and stockholders' equity 400 4,000 4,600 45.950 $0.550 $79.610 600 4.000 4,600 34.100 30.700 $ 66,330 2 points & om AU 7.300 6.200 Woller Corporation Comparat Tacone Statement and Reconciliation dollars in thousands) This Year Last Year Sales $ 75.000 65,000 Cost of goods sold 35.000 41.000 Cross margin 40.000 24.000 Selling and administrative expenses Selling expenses 11.400 10,500 Administrative expert Total til en and administrative expenses 10/100 12,200 Het operating in 21,300 6,000 Intereste 300 300 Not income before taxes 20,560 6,000 0 Income taxes 8.200 2.400 Het is 12.300 3.600 Dividends to con atokholdere 456 240 Net noe added to retained warning 11.850 3,360 Beginning retained earnings 24.100 30.740 Ending retained exrnings $ 45,950 34,100 Heteren Required: Compute the following financial data and ratios for this year 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.)