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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$22.$ All of the company$$s sales are on account.

Weller Corporation

Comparative Balance Sheet

$($dollars in thousands$)$

This Year Last Year

Assets

Current assets:

Cash $ $1,270$ $ $1,390$

Accounts receivable, net $10,8006,800$

Inventory $13,30011,900$

Prepaid expenses $730590$

Total current assets $26,10020,680$

Property and equipment:

Land $9,4009,400$

Buildings and equipment, net $43,94239,912$

Total property and equipment $53,34249,312$

Total assets $ $79,442$ $ $69,992$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,600$ $ $18,100$

Accrued liabilities $980710$

Notes payable, short term $290290$

Total current liabilities $20,87019,100$

Long$-$term liabilities:

Bonds payable $9,8009,800$

Total liabilities $30,67028,900$

Stockholders' equity:

Common stock $600600$

Additional paid$-$in capital $4,0004,000$

Total paid$-$in capital $4,6004,600$

Retained earnings $44,17236,492$

Total stockholders' equity $48,77241,092$

Total liabilities and stockholders' equity $ $79,442$ $ $69,992$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $77,440$ $ $65,000$

Cost of goods sold $45,36038,000$

Gross margin $32,08027,000$

Selling and administrative expenses:

Selling expenses $11,10011,000$

Administrative expenses $6,8006,100$

Total selling and administrative expenses $17,90017,100$

Net operating income $14,1809,900$

Interest expense $980980$

Net income before taxes $13,2008,920$

Income taxes $5,2803,568$

Net income $7,9205,352$

Dividends to common stockholders $240300$

Net income added to retained earnings $7,6805,052$

Beginning retained earnings $36,49231,440$

Ending retained earnings $ $44,172$ $ $36,492$

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.$)$