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 this year was $27. All of the company's sales are on account. Assets Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year 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 $ 1,270 6,700 11,000 $ 1,240 9,200 12,600 690 700 23,730 19,670 10,200 10,200 41,721 38,864 51,921 49,064 $ 75,651 $ 68,734 $ 20,200 1,060 110 $ 19,100 870 110 21,370 20,080 9,100 9,100 30,470 29,180 700 700 4,000 4,000 4,700 4,700 40,481 34,854 45,181 39,554 $ 68,734 $ 75,651 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 70,755 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes: Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings. Last Year $ 66,000 41,300 41,000 29,455 25,000 11,500 10,900 7,200 6,000 18,700 16,900 10,755 8,100 910 910 9,845 7,190 3,938 2,876 5,907 280 5,627 34,854 $ 40,481 4,314 700 3,614 31,240 $ 34,854 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.) 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