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 the 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: $ 1,080 9,300 13,300 648 $ 1,240 7,680 18,700 580 24,328 28,120 Land 9,000 9,880 Buildings and equipment, net 43,281 39,202 Total property and equipment 52,281 48,282 Total assets $76,601 $68,322 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $19,000 $17,500 Accrued liabilities 988 850 Notes payable, short term 278 278 Total current liabilities 28,178 18,620 Long-term abilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital 8,800 8,880 28,978 27,420 600 680 4,000 4,800 Total paid-in capital 4,600 4,680 Retained earnings 43,031 36,382 Total stockholders' equity 47,631 48,982 Total liabilities and stockholders' equity $76,601 $68,322 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $76,895 $65,000 Cost of goods sold 45,600 37,000 Gross margin 31,296 28,000 Selling and administrative expenses: Selling expenses 11,500 18,200 Administrative expenses 7,380 6,900 Total selling and administrative expenses 18,800 17,188 Net operating income 12,495 18,900 Interest expense 888 888 Net Income before taxes 11,615 18,020 Income taxes 4,646 4,088 Net Income 6,969 6,012 Dividends to common stockholders 248 458 Net income added to retained earnings 6,729 5,562 Beginning retained earnings 36,302 38,748 Ending retained earnings $43,831 $36,302 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.) 6. Total asset turnover. (Round your answer to 2 decimal places.) 1. Accounts receivable tumover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days days