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 $25. All of the company's sales are on account Meller 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 11abilities Notes payable, short term Total current 11abilities Long-term liabilities: This Year Last Year $1,260 9,500 12,300 $1,210 5,800 11,700 630 530 23,690 20,240 10,200 10,200 45,726 40,192 55,926 50,392 5 79,616 $ 70,632 $ 19,900 900 200 21,000 $ 18,000 710 200 18,910 3,800 5,806 Long-term liabilities: Bonds payable Total liabilities: Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity 8,000 29,890 8,800 27,710 600 600 4,000 4,000 4,600 4,600 45,126 30,522 49.726 42,922 $79,616 $ 70,632 Total liabilities and stockholders' equity Heller Corporation Comparative Income Statement and Reconciliation (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 $ 71,720 42,000 Last Yean $ 65,000 35,000 29,720 10,000 10,700 10,000 6,400 6,100 17.100 16,400 12,620 13,600 880 800 11,740 12,720 4,696 7,044 240 6,804 38,322 $45,126 5,088 7,632 450 7,162 31.140 $38,322 4 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 turnover 2 Average collection period 3. Inventory turnover 4 Average sale period 5 Operating cycle Total asset turnover days days days