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 500,000 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 $29. All of the company's sales are on account. Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Weller Corporation Comparative Balance Sheet (dollars in thousands) Buildings and equipment, net Total property and equipment Total assets Current liabilities: Liabilities and Stockholders' Equity 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 This Year Last Year $ 1,130 9,700 13,600 $ 1,250 8,400 11,900 600 620 25,030 22,170 9,900 9,900 44,880 54,780 36,948 46,848 $ 79,810 $ 69,018 $ 18,500 970 $ 18,300 840 220 220 19,690 19,360 9,200 28,890 9,200 28,560 500 500 4,000 4,000 4,500 4,500 46,420 35,958 50,920 40,458 $ 79,810 $ 69,018 Weller Corporation Comparative Income Statement and Reconciliation Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 79,640 Last Year $ 65,000 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 Required: Compute the following financial data for this year: 43,350 37,000 36,290 28,000 11,100 10,900 6,500 6,900 17,600 17,800 18,690 10,200 920 920 9,280 3,712 10,662 5,568 200 250 10,462 5,318 35,958 30,640 $ 46,420 $ 35,958 17,770 7,108 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