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 700,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company's common stock at the end of the year was $23. All of the company's sales are on account.

Weller Corporation

Comparative Balance Sheet

(dollars in thousands)This YearLast YearAssetsCurrent assets:Cash$1,170$1,250Accounts receivable, net10,7008,400Inventory13,10011,200Prepaid expenses690610Total current assets25,66021,460Property and equipment:Land9,9009,900Buildings and equipment, net46,93238,395Total property and equipment56,83248,295Total assets$82,492$69,755Liabilities and Stockholders' EquityCurrent liabilities:Accounts payable$19,200$19,000Accrued liabilities1,080800Notes payable, short term110110Total current liabilities20,39019,910Long-term liabilities:Bonds payable8,5008,500Total liabilities28,89028,410Stockholders' equity:Common stock700700Additional paid-in capital4,0004,000Total paid-in capital4,7004,700Retained earnings48,90236,645Total stockholders' equity53,60241,345Total liabilities and stockholders' equity$82,492$69,755

Weller Corporation

Comparative Income Statement and Reconciliation

(dollars in thousands)This YearLast YearSales$83,085$65,000Cost of goods sold43,74038,000Gross margin39,34527,000Selling and administrative expenses:Selling expenses11,10010,400Administrative expenses6,5006,200Total selling and administrative expenses17,60016,600Net operating income21,74510,400Interest expense850850Net income before taxes20,8959,550Income taxes8,3583,820Net income12,5375,730Dividends to common stockholders280525Net income added to retained earnings12,2575,205Beginning retained earnings36,64531,440Ending retained earnings$48,902$36,645

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. Roundyourintermediate 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. Roundyourintermediate 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.)