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 $29. 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 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 Cost of goods sold Gross margin Weller Corporation $ 1,120 9,400 13,900 630 25,050 9,200 47,972 57,172 $ 82,222 $ 1,350 7,500 11,000 600 20,450 9,200 40,648 49,848 $ 70,298 $ 19,200 $ 20,200 1,040 210 760 210 21,450 20,170 9,700 9,700 31,150 29,870 600 600 4,000 4,000 4,600 4,600 46,472 35,828 51,072 40,428 $82,222 $ 70,298 Comparative Income Statement and Reconciliation (dollars in thousands) This Year $74,360 37,350 37,018 Last Year $ 64,000 37,000 27,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 74,360 37,350 Last Year $ 64,000 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: 37,000 37,010 27,000 11,400 10,500 6,500 6,300 17,900 16,800 19,110 10,200 970 970 18,140 7,256 9,230 3,692 10,884 5,538 240 450 10,644 5,088 35,828 30,740 $ 46,472 $ 35,828 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