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 700,000 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 $26. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets $ 1,240 11,000 13,900 680 26,820 $ 1,400 6,900 11, 200 650 20,150 10,800 45,766 56,566 $ 83,386 10,800 36,659 47,459 $ 67,609 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 Total liabilities - Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 19,000 920 150 20,070 $ 18,500 870 150 19,520 payable 8,100 28, 170 8,100 27,620 700 4,000 4,700 50,516 55, 216 $ 83,386 700 4,000 4,700 35, 289 39,989 $ 67,609 Last Year $ 65,000 39,000 26,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 80,550 Cost of goods sold 36,395 Gross margin 44,155 Selling and administrative expenses: Selling expenses 11,000 Administrative expenses 6,500 Total selling and administrative expenses 17,500 Net Net operating income 26,655 810 Interest expense 810 Net income before taxes 845 Income taxes Net income Dividends to common stockholders 280 Net income added to retained earnings Beginning retained earnings 35, 289 Ending retained earnings $ 50,516 10,400 6,500 16,900 9,100 810 810 8,290 210 3,316 4,974 525 25,845 10,338 15,507 15,227 4,449 30,840 $ 35, 289 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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle days days