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 $28. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 pavable. short term This Year Last Year $ 1,230 10,100 13,500 $ 1,390 8,500 11,800 660 25, 490 690 22,380 10,300 10,300 43, 740 34,940 54,040 45,240 $ 79,530 $ 67,620 $ 19,800 $ 18, 400 900 140 000 140 ALLUUIILS payaure D 10,400 Accrued liabilities 900 800 Notes payable, short term 140 140 Total current liabilities 20,840 19,340 Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings 9,500 9,500 30, 340 28,840 600 600 4,000 4,000 4,600 4,600 44,590 34, 180 Total stockholders' equity Total liabilities and stockholders' equity 49,190 38,780 $ 79,530 $ 67,620 Sales Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year 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 Thrama FAVAR $ 81,840 $ 65,000 45,540 41,000 36, 300 24,000 11,100 10,700 6,500 6,200 17,600 16,900 18,700 7,100 950 17,750 950 6,150 7 100 2160 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 950 950 17,750 6,150 7,100 2,460 10,650 3,690 240 450 10,410 3,240 34, 180 $ 44,590 30, 940 $ 34,180 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