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 500,000 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 $24. 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 $ 1,220 10,400 12,200 740 $ 1,400 7,100 11,200 700 24,560 20,400 11,000 11,000 Buildings and equipment, net 50,457 39,766 Total property and equipment 61,457 50,766 Total assets $86,017 $71,166 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $19,100 $18,500 Accrued liabilities 910 730 Notes payable, short term 150 150 Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock Additional paid-in capital 20,160 19,380 8,900 8,900 29,060 28,280 500 500 4,000 4,000 Total paid-in capital 4,500 4,500 Retained earnings 52,457 38,386 Total stockholders' equity 56,957 42,886 Total liabilities and stockholders' equity $86,017 $71,166 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $83,125 $64,000 Cost of goods sold 40,950 32,000 Gross margin 42,175 32,000 Selling and administrative expenses: Selling expenses 10,600 10,500 Administrative expenses 6,900 6,700 Total selling and administrative expenses 17,500 17,200 Net operating income 24,675 14,800 Interest expense 890 890 Net income before taxes Income taxes Net income 23,785 9,514 14,271 13,910 5,564 8,346 Dividends to common stockholders 200 Net income added to retained earnings 14,071 500 7,846 Beginning retained earnings 38,386 30,540 Ending retained earnings $52,457 $38,386 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