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 companys common stock at the end of this year was $24. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year	Last Year
Assets
Current assets:
Cash	$ 1,220	$ 1,360
Accounts receivable, net	10,700	7,300
Inventory	13,500	11,800
Prepaid expenses	710	590
Total current assets	26,130	21,050
Property and equipment:
Land	10,300	10,300
Buildings and equipment, net	46,996	37,212
Total property and equipment	57,296	47,512
Total assets	$ 83,426	$ 68,562
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 18,600	$ 18,300
Accrued liabilities	1,010	900
Notes payable, short term	270	270
Total current liabilities	19,880	19,470
Long-term liabilities:
Bonds payable	8,300	8,300
Total liabilities	28,180	27,770
Stockholders' equity:
Common stock	600	600
Additional paid-in capital	4,000	4,000
Total paid-in capital	4,600	4,600
Retained earnings	50,646	36,192
Total stockholders' equity	55,246	40,792
Total liabilities and stockholders' equity	$ 83,426	$ 68,562

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year	Last Year
Sales	$ 82,800	$ 65,000
Cost of goods sold	40,480	39,000
Gross margin	42,320	26,000
Selling and administrative expenses:
Selling expenses	10,600	10,200
Administrative expenses	6,400	6,300
Total selling and administrative expenses	17,000	16,500
Net operating income	25,320	9,500
Interest expense	830	830
Net income before taxes	24,490	8,670
Income taxes	9,796	3,468
Net income	14,694	5,202
Dividends to common stockholders	240	450
Net income added to retained earnings	14,454	4,752
Beginning retained earnings	36,192	31,440
Ending retained earnings	$ 50,646	$ 36,192

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.)

Answer is complete but not entirely correct. 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover 4.60 79.35 days 1.60 228.13 % days 307.48 days 1.09