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 $26. All of the company's sales are on account Weller Corporation Comparative Balance sheet (dollars in thousands) This Year Last Year $ 1,200 9.100 12,700 800 23, BOO $ 1,230 7,800 11,300 510 20,840 9,800 47,388 52188 500,988 9,800 39,592 49,392 570.232 Assets Current assets Cash Accounts receivable, net Inventory Prepaid expenses Total current asseta 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 $19,900 1,040 170 21,110 $18, 100 780 170 19.050 9.800 30,910 9,800 28,850 700 4,000 4,700 45,378 50,078 $80,988 700 4.000 4,700 36,682 41.382 $70,232 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $77, 740 $64,000 Cost of goods sold 43,200 36,000 Gross margin 34,540 28,000 Selling and administrative expenses Selling expenses 11,200 10,900 Administrative expenses 7,400 6,800 Total selling and administrative expenses 18,600 17,700 Net operating income 15,940 10,300 Interest expense 980 980 Net income before taxes 14,960 9,320 Income taxes 5,984 3,728 Net income 8,976 5,592 Dividends to common stockholders 280 350 Net income added to retained earnings 8,696 5,242 Beginning retained earning 36,682 31,440 Ending retained earningo $45,378 $36,682 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 days 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days