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 $30. 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: $ 1,150 10,600 $ 1,270 12,400 7,700 12,500 740 630 24,890 22,100 10,300 10,300 55,905 40,928 66,205 51,228 $ 91,095 $ 73,328 $ 19,500 $ 19,000 1,080 220 760 220 20,800 19,980 8,700 8,700 29,500 28,680 600 600 4,000 4,000 4,600 4,600 Retained earnings 56,995 Total stockholders' equity 40,048 61,595 44,648 Total liabilities and stockholders' equity $ 91,095 $ 73,328 Common stock Additional paid-in capital Total paid-in capital Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 86,010 $ 66,000 Cost of goods sold 38,595 33,000 Gross margin 47,415 33,000 Selling and administrative expenses: Selling expenses 11,200 10,700 Administrative expenses 6,700 6,000 Total selling and administrative expenses 17,900 16,700 Net operating income. 29,515 16,300 Interest expense 870 870 Net income before taxes 28,645 15,430 Income taxes 11,458 6,172 Net income 17,187 9,258 Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 240 450 16,947 40,048 8,808 31,240 $ 56,995 $ 40,048 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.) 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