Comparative financial statements for Weller Corporation, a merchandising company

Question

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 600,000 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 $26. All of the company's sales are on account.

Explanation / Answer

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Particulars Amt Total Current Assets (A) 24320 Less: Total Current Liabilities (B) 20660 Working Capital (A-B)    3,660.00

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