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 $24. 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 Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable $ 1,150 9,600 12,200 650 $ 1,220 7,300 10,800 510 23,600 19,830 9,300 48,194 9,300 42,850 57,494 52,150 $ 81,094 $ 71,980 $ 18,500 $ 18,800 910 820 160 160 19,570 19,780 8,500 8,500 Total liabilities Stockholders' equity: 28,070 28,280 Common stock Additional paid-in capital 600 600 4,000 4,000 Total paid-in capital 4,600 4,600 Retained earnings 48,424 39,100 Total stockholders' equity 53,024 43,700 Total liabilities and stockholders' $ 81,094 $ 71,980 equity Invertinsta Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 77,740 Last Year $ 64,000 Cost of goods sold 42,550 32,000 Gross margin 35,190 32,000 Selling and administrative expenses: Selling expenses 11,300 10,200 Administrative expenses 7,100 6,100 Total selling and administrative expenses 18,400 16,300 Net operating income 16,790 15,700 Interest expense 850 850 Net income before taxes 15,940 14,850 Income taxes 6,376 5,940 Net income 9,564 8,910 240 450 9,324 8,460 Beginning retained earnings 39,100 30,640 $ 48,424 $ 39,100 Dividends to common stockholders Net income added to retained earnings Ending retained earnings 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.)