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 $28. 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 12,800 780 23,900 $ 1,220 9,100 $ 1,290 7,300 11,800 640 21,030 9,300 9,300 50,335 40,137 59,635 49,437 $ 83,535 $ 70,467 20,400 1,090 $ 18,600 750 240 21,730 240 19,590 8,300 8,300 30,030 27,890 700 700 4,000 4,000 4,700 4,700 48,805 37,877 53,505 42,577 Total liabilities and stockholders' equity $ 83,535 $ 70,467 Sales Cost of goods sold Gross margin Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) 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 This Year $ 72,980 Last Year $ 65,000 35,670 35,000 37,310 30,000 11,200 10,500 6,600 6,900 17,800 17,400 19,510 12,600 830 830 18,680 7,472 11,770 4,708 11,208 280 10,928 37,877 7,062 525 6,537 31,340 $ 37,877 $ 48,805 1. Accounts receivable turnover 2. Average collection period 3. Inventory tumover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days days