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 the year was $27. 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 $ 1,100 $ 1,310 10,200 13,500 7,500 11,900 670 640 25,470 21,350 Property and equipment: Land 10,800 10,800 Buildings and equipment, net 45,197 38,714 Total property and equipment 55,997 49,514 Total assets $81,467 $70,864 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $19,400 $19,000 Accrued liabilities 970 720 Notes payable, short term 230 230 Total current liabilities 20,600 19,950 Long-term liabilities: Bonds payable 8,600 8,600 Total liabilities 29,200 28,550 Stockholders' equity: Common stock 700 700 Additional paid-in capital 4,000 4,000 Total paid-in capital 4,700 4,700 Retained earnings 47,567 37,614 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 47,567 37,614 ## 52,267 $81,467 42,314 $70,864 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $82,305 $66,000 Cost of goods sold 46,990 37,000 Gross margin 35,315 29,000 Selling and administrative expenses: Selling expenses 10,700 10,600 Administrative expenses 6,700 6,500 Total selling and administrative expenses 17,400 17,100 Net operating income 17,915 11,900 Interest expense 860 860 Net income before taxes 17,055 11,040 Income taxes 6,822 4,416 Net income 10,233 6,624 Dividends to common stockholders 280 350 Net income added to retained earnings 9,953 6,274 Beginning retained earnings 37,614 31,340 Ending retained earnings $47,567 $37,614 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.)