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 $27. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,210 9,800 12,600 770 24,380 $ 1,220 7,900 11,500 680 21,300 10,400 46,984 57,384 $81,764 10,400 37,614 48,014 $69,314 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 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $20, 400 1,020 180 21,600 $18,800 720 180 19,700 8,600 30, 200 8,600 28,300 700 4,000 4,700 46,864 51,564 $81,764 700 4,000 4,700 36,314 41,014 $69, 314 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $77,880 $65,000 Cost of goods sold 40,970 38,000 Gross margin 36,910 27,000 Selling and administrative expenses: Selling expenses 11,100 10,500 Administrative expenses 6,900 6,100 Total selling and administrative expenses 18,000 16,600 Net operating income 18,910 10,400 Interest expense 860 860 Net income before taxes 18,050 9,540 Income taxes 7,220 3,816 Net income 10,830 5,724 Dividends to common stockholders 280 350 Net income added to retained earnings 10,550 5,374 Beginning retained earnings 36,314 30,940 Ending retained earnings $46,864 $36, 314 Required: 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.) 5. Operating cycle. (Round your intermediate calculations and final answer to 2 decimal places.) 6. Total asset turnover. (Round your answer to 2 decimal places.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days