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 $27. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,270 9,000 13,300 680 24, 250 $ 1,300 7,100 10,800 600 19,800 9,400 40,795 50, 195 $ 74,445 9,400 37,891 47,291 $ 67,091 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 Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 19,600 990 140 20,730 18,700 730 140 19,570 8,900 29,630 8,900 28, 470 700 4,000 4,700 40, 115 44,815 $ 74,445 700 4,000 4,700 33,921 38,621 $ 67,091 Weller Arnarstan Last Year $ 64,000 40,000 24,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 74,865 Cost of goods sold 44,585 Gross margin 30,280 Selling and administrative expenses: Selling expenses 11,400 Administrative expenses 7,200 Total selling and administrative expenses 18,600 Net operating income 11,680 Interest expense 890 Net income before taxes 10,790 Income taxes 4, 316 Net income 6,474 Dividends to common stockholders 280 Net income added to retained earnings 6, 194 Beginning retained earnings 33,921 Ending retained earnings $ 40,115 10,100 6,500 16,600 7,400 890 6,510 2,604 3,906 525 3, 381 30,540 $ 33,921 nud. 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 tumover 4. Average sale period 5 Operating cycle 6. Total asset tumover days days