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 the year was $26. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) ok This Tear Last Year int $ 1,170 10,700 13,100 210 25.6.30 $ 1,210 7.100 11,500 21,040 It 9.600 49.430 59.020 384,710 9.600 42.234 0 rences 573,574 Assets Current ansetet Cash Accounts receivable. Det Inventory Prepaid expenses Total current assets Property and equipment Land muildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current Liabilities Accounts payable Acerved liabilities Notes payable, short term Total current liabilitien Long-term linbilities Sonds payable Total liabilities Stockholders equitys Common stock Additional paid in capital Total paid in capital Retained earning Total stockholdere quity Total liabilities and stockholders' equity $19,500 1.050 250 20.000 51.100 730 250 20,000 2.100 29.900 9.106 29. 180 600 4.000 4.600 50,210 54,810 584.710 600 4.000 4.600 29294 24 573,574 This Year Last Year $79,120 $65,000 43,050 32,000 36,070 33,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 10,700 6, 700 17,400 18,670 910 17,760 7,104 10,656 240 10,416 39,794 $50, 210 10,400 6,600 17.000 16,000 910 15,090 6,036 9,054 300 8,754 31,040 $39,794 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 tumover days days