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 companys common stock at the end of this year was $27. All of the companys sales are on account.

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.)

Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash \begin{tabular}{rr} $1,200 & $1,280 \\ 9,800 & 6,800 \\ 12,800 & 10,600 \\ 660 & 580 \\ \hline 24,460 & 19,260 \\ \hline 9,900 & 9,900 \\ 45,335 & 38,967 \\ \hline 55,235 & 48,867 \\ \hline$79,695 & $68,127 \\ \hline \hline \end{tabular} Liabilities and Stockholders' Equity Current liabilities: Accounts payable \begin{tabular}{rr} $19,400 & $17,900 \\ 1,070 & 840 \\ 240 & 240 \\ \hline 20,710 & 18,980 \\ 9,300 & 9,300 \\ \hline 30,010 & 28,280 \\ \hline \end{tabular} Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity \begin{tabular}{rr} 500 & 500 \\ 4,000 & 4,000 \\ \hline 4,500 & 4,500 \\ 45,185 & 35,347 \\ \hline 49,685 & 39,847 \\ \hline$79,695 & $68,127 \\ \hline \hline \end{tabular}