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 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 $24. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,250 10,400 13,100 780 25,530 $ 1,290 7,700 11,900 660 21,550 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 9,900 50,954 60,854 $86, 384 9,900 40, 806 50,706 $72,256 $19,600 1,090 220 20,910 $18,400 830 220 19,450 9,900 30,810 9,900 29, 350 700 700 Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4,000 4,700 50,874 55,574 $86,384 4,000 4,700 38,206 42,906 $72,256 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $85,070 $65,000 Cost of goods sold 45,000 34,000 Gross margin 40,070 31,000 Selling and administrative expenses: Selling expenses 10,600 10,400 Administrative expenses 6,900 6,500 Total selling and administrative expenses 17,500 16,900 Net operating income 22,570 14,100 Interest expense 990 990 Net income before taxes 21,580 13,110 Income taxes 8,632 5,244 Net income 12,948 7,866 Dividends to common stockholders 280 700 Net income added to retained earnings 12,668 7,166 Beginning retained earnings 38,206 31,040 Ending retained earnings $50,874 $38,206 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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days