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 $24. All of the company's sales are on account. Weller Corporation: Comparative Balance Sheet (dollars in thousands) 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 This Year Last Year $ 1,150 9,900 12,500 670 $ 1,400 6,900 12,100 520 24,220 20,920 9,000 9,000 46,089 40,733 55,089 49,733 $ 79,309 $ 70,653 $ 19,900 $ 18,000 950 700 260 260 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 Retained earnings 260 260 21,110 18,960 9,700 9,700 30,810 28,660 700 700 4,000 4,000 4,700 4,700 43,799 37,293 48,499 41,993 $ 79,309 $ 70,653 Total stockholders' equity Total liabilities and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 74,760 $ 64,000 Cost of goods sold 44,280 34,000 Gross margin 30,480 30,000 Selling and administrative expenses: Selling expenses 11,000 10,500 Administrative expenses 7,200 6,900 Total selling and administrative expenses 18,200 17,400 Net operating income 12,280 12,600 Interest expense 978 970 Net income before taxes 11,310 11,630 Income taxes Net income 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: 4,524 4,652 6,786 6,978 280 525 6,506 6,453 37,293 $ 43,799 $ 37,293 30,840 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