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 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 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets. $ 1,210 10,900 12,600 690 $ 1,340 8,500 12,000 700 25,400 22,540 Property and equipment: Land 9,700 9,700 Buildings and equipment, net 49,767 38,049 Total property and equipment 59,467 47,749 Total assets $84,867 $70,289 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $18,800 $19,000 Accrued liabilities 920 810 Notes payable, short term 240 240 Total current liabilities 19,960 20,050 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 9,100 9,100 29,060 29,150 500 500 4,000 4,000 4,500 4,500 51,307 36,639 55,807 41,139 $84,867 $70,289 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $88,270 $65,000 Cost of goods sold 44,280 37,000 Gross margin 43,990 28,000 Selling and administrative expenses: Selling expenses 11,200 10,500 Administrative expenses 7,100 6,800 Total selling and administrative expenses 18,300 17,300 Net operating income 25,690 10,700 Interest expense 910 910 Net income before taxes 24,780 9,790 Income taxes 9,912 3,916 Net income 14,868 5,874 Dividends to common stockholders 200 375 Net income added to retained earnings 14,668 5,499 Beginning retained earnings. 36,639 31,140 Ending retained earnings $51,307 $36,639 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.) 1. Accounts receivable turnover 9.10 2. Average collection period 40.11 days 3. Inventory turnover 3.60 4. Average sale period 101.39 days 5. Operating cycle 6. Total asset turnover days