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 $29. 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 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 $ 1,210 10,300 $ 1,300 13,000 8,400 11,600 620 550 25,130 21,850 10,200 10,200 54,565 40,248 64,765 50,448 $ 72,298 $ 89,895 $ 20,000 1,030 180 $ 19,200 760 180 21,210 20,140 8,700 29,910 8,700 28,840 600 600 4,000 4,000 4,600 4,600 55,385 38,858 59,985 43,458 $ 89,895 $ 72,298 Weller Corporation Total liabilities and stockholders' equity wetter corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year! $ 83,215 Last Year $ 66,000 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 Required: Compute the following financial data for this year: 36,900 34,000 46,315 32,000 10,500 10,800 7,000 6,300 17,500 17,100 28,815 14,900 870 870 27,945 14,030 11,178 5,612 16,767 8,418 240 600 16,527 7,818 38,858 31,040 $ 55,385 $ 38,858 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