Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 500,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $1.00 last year and $0.65 this year. The market value of the company's common stock at the end of the year was $29. All of the company's sales are on account.
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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 960,000 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 $26. 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 Buildings and equipment, net Total property and equipment Total assets Weller Corporation Comparative Balance Sheet (dollars in thousands) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total…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 1,000,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 12%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock at the end of the year was $28. All of the company’s sales are on account. (dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,300 $ 1,610 Accounts receivable, net 16,400 9,250 Inventory 10,700 9,000 Prepaid expenses 2,000 2,500 Total current assets 30,400 22,360 Property and equipment: Land 8,000 8,000 Buildings and equipment, net 21,200 21,000 Total property and equipment 29,200…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 500,000 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 Buildings and equipment, net Weller Corporation Comparative Balance Sheet (dollars in thousands) Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total…
- 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 500,000 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 $23. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,190 $ 1,240 Accounts receivable, net 9,300 6,800 Inventory 13,600 11,200 Prepaid expenses 710 600 Total current assets 24,800 19,840 Property and equipment: Land 10,000 10,000 Buildings and equipment, net 47,103 38,484 Total…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 500,000 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 the year was $21. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,170 $ 1,280 Accounts receivable, net 9,300 7,500 Inventory 12,100 12,300 Prepaid expenses 720 610 Total current assets 23,290 21,690 Property and equipment: Land 9,900 9,900 Buildings and equipment, net 41,043 35,739 Total…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 980,000 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 the year was $27.00. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 4,568 $ 5,440 Accounts receivable, net 16,200 9,150 Inventory 10,600 8,920 Prepaid expenses 1,980 2,460 Total current assets 33,348 25,970 Property and equipment: Land 7,800 7,800 Buildings and equipment, net 21,000 20,800 Total…
- 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 700,000 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 $26. All of the company's sales are on account. Assets Current assets: Cash Weller Corporation Comparative Balance Sheet (dollars in thousands) Accounts receivable, net Inventory Prepaid expenses Total current assets. Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total…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 700,000 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 $29. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,250 $ 1,300 Accounts receivable, net 9,500 7,300 Inventory 12,100 11,500 Prepaid expenses 740 600 Total current assets 23,590 20,700 Property and equipment: Land 9,500 9,500 Buildings and equipment, net 49,553 42,999 Total property and equipment 59,053 52,499 Total assets $ 82,643 $ 73,199…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 700,000 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 the year was $20. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,100 $ 1,280 Accounts receivable, net 10,700 7,400 Inventory 12,800 10,800 Prepaid expenses 700 530 Total current assets 25,300 20,010 Property and equipment: Land 10,700 10,700 Buildings and equipment, net 49,184 41,192 Total…
- 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 the year was $23. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,200 $ 1,330 Accounts receivable, net 9,700 8,000 Inventory 12,900 11,500 Prepaid expenses 740 510 Total current assets 24,540 21,340 Property and equipment: Land 10,000 10,000 Buildings and equipment, net 46,641 35,406 Total…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 700,000 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 $27. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: $ 1,150 10,200 $ 1,280 12,600 7,000 12,300 730 590 24,680 21,170 Land 10,800 10,800 Buildings and equipment, net 43,663 39,694 Total property and equipment 54,463 50,494 Total assets $ 79,143 $ 71,664 Liabilities and Stockholders' Equity Current…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 the year was $24. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,140 $ 1,240 Accounts receivable, net 10,100 8,300 Inventory 13,500 11,800 Prepaid expenses 600 540 Total current assets 25,340 21,880 Property and equipment: Land 9,700 9,700 Buildings and equipment, net 46,438 37,904 Total…