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 $23. All of the company's sales are on account. 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 Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 This Year Last Year $ 1,100 9,600 14,000 620 25,320 $ 1,330 8,400 12,500 660 22,890 9,600 9,600 45,690 55,290 $ 80,610 37,850 47,450 $ 70,340 $ 19,100 960 $ 19,100 710 240 240 20,300 20,050 9,000 29,300 9,000 29,050 600 600 4,000 4,000 4,600 4,600 46,710 51,310 36,690 41,290 $ 80,610 $ 70,340 Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) 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: This Year Last Year $ 79,200 $ 64,000 42,400 36,000 36,800 28,000 11,400 10,300 7,400 6,300 18,800 16,600 18,000 11,400 900 900 17,100 6,840 10,260 240 10,020 36,690 10,500 4,200 6,300 450 5,850 30,840 $ 46,710 $ 36,690 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