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 this year was $29. All of the company's sales are on account year and $0.40 this year. Ine market value of the company s common stock at the ena o 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 $ 1,110 9,400 $ 1,280 13,300 800 8,300 11,300 620 24,610 21,500 10,900 10,900 Buildings and equipment, net 45,687 35,949 Total property and equipment 56,587 46,849 Total assets $ 81,197 $ 68,349 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Retained earnings 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 Total stockholders' equity $ 19,100 1,000 200 20,300 $ 18,900 750 200 19,850 9,600 29,900 9,600 29,450 700 700 4,000 4,000 4,700 4,700 46,597 34,199 51,297 38,899 Total liabilities and stockholders' equity $ 81,197 $ 68,349 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 79,650 $ 65,000 Cost of goods sold 39,360 41,000 Gross margin 40,290 24,000 Selling and administrative expenses: Selling expenses 11,500 10,800 Administrative expenses 6,700 6,600 Total selling and administrative expenses 18,200 17,400 Net operating income 22,090 6,600 Interest expense 960 960 Net income before taxes 21,130 5,640 Income taxes 8,452 2,256 Net income 12,678 3,384 Dividends to common stockholders 280 525 Net income added to retained earnings Beginning retained earnings Ending retained earnings 12,398 34,199 2,859 31,340 $ 46,597 $ 34,199 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 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 A Average sale period 5 Operating cyde 6 Total asset lumover days days days