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 company's common stock at the end of this year was $21. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,280 19.609 12.7ee 790 370 $ 1,319 6,700 12,300 690 21.000 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: 0 45.641 41 111 9 .169 38.150 47.250 $68.250 $18.400 730 19,899 31,299 10,089 29,410 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 699 4,000 4,699 44,221 48,821 $80, 111 609 4,099 4,609 34,240 38,840 $68,250 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $76,985 $65,000 Cost of goods sold 41,250 41,000 Gross margin 35,735 24,000 Selling and administrative expenses: Selling expenses 10,500 10,000 Administrative expenses 7,200 7.000 Total selling and administrative expe 17,700 17,000 Net operating income 18,035 7,000 Interest expense 1,000 1,000 Net income before taxe 17,035 6,000 Income taxes 6,814 2,400 Net income 10,221 3,600 Dividends to common stockholders 240 600 Net income added to retained earnings 9,9813 ,000 Beginning retained earnings 34,240 31,240 Dividers to CO stockholders Net Income added to retained earnings Beginning retained earnings Ending retained earnings 9.981 14,240 144,221 609 3. 31,240 $14,240 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.) L 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