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 company's common stock at the end of this year was $26. All of the company's sales are on account This Year Last Year $1,140 10,000 12,100 600 23,840 $ 1,370 6,500 11,200 590 19,660 Woller Corporation Comparative Balance sheet (dollars in thousands) Assets Current stat Cash| Accounts receivable, net Inventory Prepaid expenses Total current asset Property and equipment: Land Buldings 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-tern liabilities: Bonds payable Total liabilities Stockholders' equity: Commons 9,600 51,026 60.626 $ 84,466 9.600 39,378 48.978 $ 68,638 $ 19,500 1,020 170 20,680 $ 17,800 790 170 18,760 8,200 28,880 B,200 26,960 600 600 Stockholders equity! Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 600 4,000 4,600 50,986 55,586 $ 84,466 600 4,000 4,600 37,078 41,678 $ 68,638 Last Year $ 65,000 37,000 28,000 Heller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 77,550 Cost of goods sold 34,950 Grous margin 42,600 Selling and administrative expenses 1 Selling expenses 10,900 Administrative expenses 7.300 Total selling and administrative expenses 18,200 Net operating income 24,400 Interest expense 820 Net income before taxes 23,580 Income taxes 9,432 Net income 14,148 Dividends to common stockholders 240 Met income added to retained earnings 13,908 Beginning retained earnings 37,078 Ending retained earnings $ 50,986 10,500 6,200 16,700 11,300 820 10,480 4.192 6,288 450 5,838 31.240 $ 37,078 Required: Compute the following financial data for this year 30.986 37,078 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 turnover days days