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%. 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 $22. 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 $ 1,250 10,500 12,700 720 $ 1,340 8,300 11,600 670 25,170 21,910 Property and equipment: Land 9,600 9,600 Buildings and equipment, net 55,117 39,412 Total property and equipment 64,717 49,012 Total assets $89,887 $70,922 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $19,100 $18,300 Accrued liabilities 920 830 Notes payable, short term 300 300 Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock 20,320 19,430 8,800 29,120 8,800 28,230 600 600 Additional paid-in capital 4,000 4,000 Total paid-in capital 4,600 4,600 Retained earnings 56,167 38,092 Total stockholders' equity 60,767 42,692 Total liabilities and stockholders' equity $89,887 $70,922 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales Cost of goods sold $89,300 $64,000 40,095 35,000 Gross margin 49,205 29,000 Selling and administrative expenses: Selling expenses 11,300 10,300 Administrative expenses 6,500 6,400 Total selling and administrative expenses 17,800 16,700 Net operating income 31,405 12,300 Interest expense 880 880 Net income before taxes 30,525 11,420 Income taxes 12,210 4,568 Net income 18,315 6,852 Dividends to common stockholders 240 300 Net income added to retained earnings 18,075 6,552 Beginning retained earnings 38,092 31,540 Ending retained earnings $56,167 $38,092 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.) 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle days days days