Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below 2 The company did not issue any new common stook during the year. A total of 600,000 shares of common stock were outstanding. The interest rate on the bonid 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 $28 All of the company's sales are on account weller Corporation Comparative Balance Sheet (dollars in thousande) This Year Last Year Assets Current assets Cash Accounts receivable, net Inventory Prepaid expenses, Total current assets $1,210 30,600 12,600 710 $3,200 10,700 25,126 20.400 Property and equipment Land 9,000 $1,318 19.912 Tatal property and equipment 42,910 49,912 Total assets 169,972 60,030 Liabilities and Stockholders' Equity Current abilities Accounts payable Accrued liabilities botes payable, short tere Jutal current s Long-term liabilities Bonds peyable total paid-in capital Retained earnings tal stockholders' equity Total abilities and stockholders' equity 58,000 $ 69,972 $1,300 1,046 19,930 39,410 9,300 29.238 20-710 600 4,100 54,200 36,642 41,262 This Year Last Year Sales 2 Cost of goods sold $ 84,175 36,115 $ 66,000 37,000 Gross margin 40,060 29,000 Selling and administrative expenses: Selling expenses 10,700 10,900 Administrative expenses 6,800 6,300 Total selling and administrative expenses 17,500 17,200 Net operating Incone 30,560 11,000 Interest expense 930 930 Net Income before taxes 29,630 eBook Income taxes 11,852 Net income 17,778 10,870) 4,348 6,522 Dividends to common stockholders 240 600 17,538 36,662 $ 54,200 5,922 30,740 $ 36,662 Hint Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: Compute the following financial data for this year 1 Accounts receivable turnover (Assume all sales are on account.) Note: Round your answer to 2 decimal places. 2. Average collection period Note: Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places. 3. Inventory turnover Note: Round your answer to 2 decimal places. 4. Average sale period. Note: Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places. 5. Operating cycle. Note: Round your intermediate calculations and final answer to 2 decimal places. 6. Total asset turnover. Note: Round your answer to 2 decimal places. 1 Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days days