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 $29. 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: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 1,170 10,100 $ 1,310 6,600 13,000 720 24,990 12,000 680 20,590 9,700 9,700 44,893 38,554 54,593 $ 79,583 $ 68,844 48,254 $ 19,900 1,000 160 $ 18,400 860 160 21,060 19,420 8,600 8,600 29,660 28,020 600 600 4,000 4,000 4,600 4,600 45,323 36,224 49,923 40,824 $ 79,583 $ 68,844 Sales Cost of goods sold Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 70,975 36,250 Last Year $ 65,000 38,000 Gross margin 34,725 27,000 Selling and administrative expenses: Selling expenses 11,400 10,400 Administrative expenses 6,900 6,600 Total selling and administrative expenses 18,300 17,000 Net operating income 16,425 10,000 Interest expense 860 860 Net income before taxes 15,565 9,140 Income taxes 6,226 3,656 Net income 9,339 5,484 Dividends to common stockholders 240 600 Net income added to retained earnings Beginning retained earnings Ending retained earnings 9,099 36,224 4,884 31,340 $ 45,323 $ 36,224 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 days