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%, 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 $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 Property and equipment: Land Buildings and equipment, net $1,140 9,500 $ 1,360 13,100 7,500 11,100 770 680 24,510 20,640 10,300 10,300 47,208 40,976 Total property and equipment 57,508 51,276 Total assets $ 82,0181 $71,916 Liabilities and Stockholders' Equity Current liabilities: Liabilities and Stockholders' Equity Current liabilities: Accounts payable 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 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Sales $ 19,700 1,020 150 $ 18,600 850 150 20,870 19,600 9,900 9,900 30,770 29,500 600 600 4,000 4,000 4,600 4,600 46,648 37,816 51,248 42,416 $ 82,018 $ 71,916 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 75,650 41,140 34,510 Last Year $ 66,000 36,000 30,000 Cost of goods sold Gross margin Selling and administrative expenses: 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 Required: Compute the following financial data for this year: 34,510 30,000 11,200 10,600 7,200 6,200 18,400 16,800 16,110 990 13,200 990 15,120 12,210 6,048 4,884 9,072 7,326 240 450 8,832 37,816 6,876 30,940 $ 46,648 $ 37,816 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 de 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 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.)