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 $25. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,120 10,800 12,400 610 24, 930 $ 1,320 7,100 11,600 660 20,600 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 Acerued liabilities Notes payable, short term Total current liabilities Long-term liabilities Bonds payable Total liabilities 10,000 50,919 60,919 585,849 10,000 38.747 48.747 $ 69,427 $ 19,300 980 100 20,460 5 17.600 720 180 18,500 9,800 30.260 9.800 21.00 SULU VE VELU Stockholders' equity: Common stock Additional paid-in capital Total paid in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 700 4,000 4,700 50,889 55,589 $ 85,849 700 4,000 4,700 36,427 41,127 $ 69,427 Last Year $ 65,000 36,000 29,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 80,550 Cost of goods sold 37,200 Gross margin 43,350 Selling and administrative expenses : Selling expenses 11,200 Administrative expenses 6.600 Total selling and administrative expenses 17,800 Net operating income 25,550 Interest expense 980 Net income before taxes 24,570 Income taxes 9,828 Net income 14, 742 Dividends to common stockholders 280 Net income added to retained earnings 14,462 Beginning retained earnings 36,427 Ending retained earnings $ 50,889 10,800 6, 700 17,500 11,500 980 10,520 4,208 6,312 525 5,787 30, 640 $. 36,427 Required: Compute the following financial data for this year Ending retained earnings $ 50,889 $ 36,427 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 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 decim 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.) 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover 8.901 41.01 days 11,750.00 117.74 days 158.75 days 1.07