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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

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 companys common stock at the end of the year was $29. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
This Year Last Year
Assets
Current assets:
Cash $ 1,160 $ 1,340
Accounts receivable, net 10,000 7,200
Inventory 12,700 12,200
Prepaid expenses 800 530
Total current assets 24,660 21,270
Property and equipment:
Land 10,300 10,300
Buildings and equipment, net 49,604 41,156
Total property and equipment 59,904 51,456
Total assets $ 84,564 $ 72,726
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 19,600 $ 19,000
Accrued liabilities 910 760
Notes payable, short term 280 280
Total current liabilities 20,790 20,040
Long-term liabilities:
Bonds payable 8,400 8,400
Total liabilities 29,190 28,440
Stockholders' equity:
Common stock 600 600
Additional paid-in capital 4,000 4,000
Total paid-in capital 4,600 4,600
Retained earnings 50,774 39,686
Total stockholders' equity 55,374 44,286
Total liabilities and stockholders' equity $ 84,564 $ 72,726

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
This Year Last Year
Sales $ 78,260 $ 65,000
Cost of goods sold 39,840 32,000
Gross margin 38,420 33,000
Selling and administrative expenses:
Selling expenses 11,400 10,900
Administrative expenses 7,300 6,100
Total selling and administrative expenses 18,700 17,000
Net operating income 19,720 16,000
Interest expense 840 840
Net income before taxes 18,880 15,160
Income taxes 7,552 6,064
Net income 11,328 9,096
Dividends to common stockholders 240 450
Net income added to retained earnings 11,088 8,646
Beginning retained earnings 39,686 31,040
Ending retained earnings $ 50,774 $ 39,686

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.)

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