compar 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 $29. All of the company's sales are on account Weller Corporation Comparative Balance Sheet -. .... ........dollars in thousands) of 500,000 shares of company did not issuendising company, for the was $0.75 last year income tax rate was 40k were outstandine. Chamon stock r of the company's sales of the compare Weller e (dollars in thousand This Year Last Year Assets assets .se Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales 581,000 565,000 Cost of goods sold 136, 480 ,000 Gross margin 144,520 127,000 Selling and administrative expenses: Selling expenses 11,200 10,500 Administrative expenses 16,800 TT 6,700 Total selling and administrative he,000 17,200 Net operating incon 126,520 119,800 corest expense 910910 income before tax 25,610 B, 690 T10,2443,556 15,366 TT5,334 ividends to common stockholders 200 7 5 det income added to retained earnings 115,166 4 ,959 Beginning retained earnings 136,399 31,440 Ending retained earnings 7851, 565 $36,399 Accounts receivable, net 1,200 $1,300 10,300 1,200 12,200 10,6007 700 700 125, 0001119,740 17 19,300 19,300 11 50, 59540,069 1 59,89549,369 $84,895 1569,109 11 Required Prepaid expenses. Prepaid expenses . ...... Total current agets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Tiabilities and stockholders' Equi Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilitie Long-term liabilit Bonds payable .............. Total liabilities Stockholders' equity: $18,500 518, 100 11.090 870 140 140 19,730119, 110 Compute the following financial data for this year. 1. Accounts receivable turnover, (Assume that all sales are on account.) (Round your answer to 2 decimal places.) 2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 3. Inventory turnover. (Round your answer to 2 decimal places 4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 65. Operating cycle. (Round your intermediate caleulations and final answer to 2 decimal places.) 6. Total asset turnover. (Round your answer to 2 decimal places.) 119,100 19,100 28,830 28,210 Comon stack Additional paid-in capital Total paid in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity LA SOOTIT 500 114,000 14,000 4.500 T 4.500 $1,565 36,3991 156,065 140,899 $94, 895 $69,109