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$$s common stock at the end of this year was $$27.$ 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 $ $1,110$ $ $1,320$

Accounts receivable, net $9,9007,400$

Inventory $12,10012,500$

Prepaid expenses $690650$

Total current assets $23,80021,870$

Property and equipment:

Land $10,60010,600$

Buildings and equipment, net $48,12438,640$

Total property and equipment $58,72449,240$

Total assets $ $82,524$ $ $71,110$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $18,800$ $ $18,600$

Accrued liabilities $990840$

Notes payable, short term $220220$

Total current liabilities $20,01019,660$

Long$-$term liabilities:

Bonds payable $9,5009,500$

Total liabilities $29,51029,160$

Stockholders' equity:

Common stock $600600$

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

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

Retained earnings $48,41437,350$

Total stockholders' equity $53,01441,950$

Total liabilities and stockholders' equity $ $82,524$ $ $71,110$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $74,390$ $ $66,000$

Cost of goods sold $36,90037,000$

Gross margin $37,49029,000$

Selling and administrative expenses:

Selling expenses $11,10010,400$

Administrative expenses $6,6006,300$

Total selling and administrative expenses $17,70016,700$

Net operating income $19,79012,300$

Interest expense $950950$

Net income before taxes $18,84011,350$

Income taxes $7,5364,540$

Net income $11,3046,810$

Dividends to common stockholders $240600$

Net income added to retained earnings $11,0646,210$

Beginning retained earnings $37,35031,140$

Ending retained earnings $ $48,414$ $ $37,350$

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.$)$