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 bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company's common stock at the end of the year was $28. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,150 10,900 13,600 710 26,360 $ 1,220 7,300 11,700 520 20,740 9,100 45,034 54.134 $80,494 9,100 38,014 47,114 $67,854 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 Total liabilities and stockholders' equity 880 $20,300 1,030 250 21,580 250 19,330 8,100 29,680 8,100 27,430 500 4,000 4,500 46,314 50,814 $80,494 500 4,000 4,500 35,924 40,424 $67,854 Last Year $65,000 38,000 27,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $79,170 Cost of goods sold 43, 010 Gross margin 36,160 Selling and administrative expenses: 11,100 Administrative expenses 6,600 Total selling and administrative expenses 17,700 Net operating income 18,460 Interest expense Net income before taxes 17, Income taxes Net income Dividends to common stockholders Net income added to retained earnings 10,390 Beginning retained earnings 35,924 Ending retained earnings $46,314 10,900 6,900 17,800 9,200 810 8,390 WNUOCO le 3,356 5,034 250 4,784 31,140 $35,924 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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days