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 500,000 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 $30. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 This Year Last Year $ 1,170 10,300 $ 1,360 8,000 12,900 10,800 750 670 25,120 20,830 9,700 9,700 50,255 59,955 $ 85,075 41,598 51,298 $ 72,128 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 $ 19,500 910 190 20,600 $ 19,400 730 190 20,320 8,200 28,800 8,200 28,520 500 500 4,000 4,000 4,500 4,500 51,775 39,108 56,275 43,608 Total liabilities and stockholders' equity $ 85,075 $ 72,128 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 85,095 Last Year Sales Cost of goods sold Gross margin $ 65,000 45,030 33,000 40,065 32,000 Selling and administrative expenses: Selling expenses 11,000 10,900 Administrative expenses 6,800 6,500 Total selling and administrative expenses Net operating income 17,800 17,400 22,265 14,600 Interest expense 820 820 Net income before taxes 13,780 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: 21,445 8,578 12,867 200 5,512 8,268 500 12,667 39,108 7,768 31,340 $ 51,775 $ 39,108 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