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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}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.

Weller Corporation

Comparative Balance Sheet

$($dollars in thousands$)$

This Year Last Year

Assets

Current assets:

Cash $ $1,200$ $ $1,320$

Accounts receivable, net $9,1006,800$

Inventory $13,60012,400$

Prepaid expenses $690590$

Total current assets $24,59021,110$

Property and equipment:

Land $10,20010,200$

Buildings and equipment, net $42,49535,836$

Total property and equipment $52,69546,036$

Total assets $ $77,285$ $ $67,146$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,300$ $ $17,700$

Accrued liabilities $930830$

Notes payable, short term $290290$

Total current liabilities $20,52018,820$

Long$-$term liabilities:

Bonds payable $8,9008,900$

Total liabilities $29,42027,720$

Stockholders' equity:

Common stock $600600$

Additional paid$-$in capital $4,0004,000$

Total paid$-$in capital $4,6004,600$

Retained earnings $43,26534,826$

Total stockholders' equity $47,86539,426$

Total liabilities and stockholders' equity $ $77,285$ $ $67,146$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $70,755$ $ $64,000$

Cost of goods sold $37,70038,000$

Gross margin $33,05526,000$

Selling and administrative expenses:

Selling expenses $10,70010,900$

Administrative expenses $7,0006,900$

Total selling and administrative expenses $17,70017,800$

Net operating income $15,3558,200$

Interest expense $890890$

Net income before taxes $14,4657,310$

Income taxes $5,7862,924$

Net income $8,6794,386$

Dividends to common stockholders $240600$

Net income added to retained earnings $8,4393,786$

Beginning retained earnings $34,82631,040$

Ending retained earnings $ $43,265$ $ $34,826$

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.$)$