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. 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 Weller Corporation Comparative Balance Sheet (dollars in thousands) Total assets Liabilities and Stockholders' Equity This Year Last Year $ 1,130 10,000 13,400 $ 1,340 7,100 11,300 790 650 25,320 20,390 10,300 10,300 44,166 41,540 54,466 51,840 $ 79,786 $ 72,230 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 $ 18,500 990 $ 18,200 790 280 280 19,770 19,270 10,000 10,000 29,770 29,270 600 600 4,000 4,000 4,600 4,600 45,416 38,360 50,016 42,960 Total liabilities and stockholders' equity $ 79,786 $ 72,230 Sales Cost of goods sold Gross margin Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 74,385 43,225 Last Year $ 66,000 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: 36,000 31,160 30,000 10,900 10,500 7,100 6,300 18,000 16,800 13,160 13,200 1,000 1,000 12,160 12,200 4,864 4,880 7,296 7,320 240 300 7,020 7,056 38,360 31,340 $ 45,416 $ 38,360 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