Ch16 HW Seved Help Save & Exit Submit Check my work 07 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 880,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, 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 $22.00. All of the company's sales are on account. 3 points Skipand Weller Corporation Comparative Balance sheet (dollars in thousands) This Year Last Year Bol Hin Pring $ 3,508 15,200 10,100 1.880 30.688 3.4.340 10,150 8,520 2,260 25,270 References Asset Current netai Canh Accounts receivable, net Inventory Prepaid expenses Total current andet Troperty and equipment Land Buildings and equipment, net Total property and equipment Total asset Liabilities and stockholders' Equity Current liabilities Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities Blonds payable Total liabilities Stockholders' equity CARTA 6,800 20.000 26.800 $57.488 6,800 19,000 26,600 $51,070 $10,300 760 380 11,440 $8,700 1.100 380 10.180 8,250 20.190 8.750 18,930 Ben on MC Graw HIH Ch16 HW Saved Help Save & Exit Submit Check my work 5 Stockholders' equity Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 880 4,600 5,480 31,818 37,298 $57.488 880 4,600 5,480 27,460 32,940 $51,870 3 points Skipped oflook Print References Weller Corporation Comparative Income statement and Reconciliation (dollars in thousands) This Year Last Year Sales $07.000 302,000 Cost of goods sold 56,000 52.000 Gross margin 31.000 30,000 Selling and administrative expenses Selling expenses 9.300 8,800 Administrative expenses 12,800 11,800 Total selling and administrative expenses 22.100 20,600 Net operating income 8.900 9.400 Interest expense 1,050 1,050 Net income before taxes 7.850 8,350 Income taxes 3,140 3,340 Net income 4,710 5,010 Dividends to common stockholders 352 Net Income added to retained earnings 4,358 4,306 27, 460 23,154 Beginning retained earnings $31,818 $27, 460 Ending retained earnings 704 Required: Compute the following financial data for this year: