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 this year was $25. 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 $ 1,160 10,600 $ 1,350 6,800 13,700 740 11,300 570 26,200 20,020 9,100 9,100 45,441 54,541 $ 80,741 39,127 48,227 $ 68,247 $ 19,600 980 $ 18,600 860 170 170 19,630 20,750 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 20,750 19,630 8,800 29,550 8,800 28,430 500 500 4,000 4,000 4,500 4,500 46,691 35,317 51,191 39,817 $ 80,741 $ 68,247 Comparative Income Statement and Reconciliation Weller Corporation (dollars in thousands) Sales Cost of goods sold Gross margin 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 Last Year $ 74,820 $ 66,000 36,250 40,000 38,570 26,000 11,400 10,900 7,000 6,800 18,400 17,700 20,170 8,300 880 880 19,290 7,420 7,716 2,968 11,574 4,452 200 375 11,374 35,317 $ 46,691 4,077 31,240 $ 35,317 Dividends to common stockholders Net income added to retained earnings. Beginning retained earnings Ending retained earnings Required: Compute the following financial data for this year: 200 11,374 35,317 375 4,077 31,240 $ 46,691 $ 35,317 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 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days days