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 $075 last year and $0 40 this year. The market value of the company's common stock at the end of this year was $28. All of the company's sales are on account This Year Last Year Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 $ 1,190 10, 500 13,100 700 25,490 $ 1,260 7.100 11,100 660 20,120 10,000 46,038 56,838 $ 81,528 10,000 37,348 47,348 $ 67,468 $ 19,700 $ 18, See 1 , 46,038 56,038 $ 81,528 10, eee 37,348 47,348 $ 67,468 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 $ 19,700 930 200 20,830 $ 18,500 810 200 19,510 8,709 29,530 8,700 28, 210 700 4, 4,700 47,298 51,998 $ 81,528 7ee 4, 4,700 34,558 39,258 $ 67,468 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year $ 82.720 Last Year $ 65,000 Sales Last Year $ 65,000 41, 24,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 82,720 Cost of goods sold 42,350 Gross margin 40,370 Selling and administrative expenses: Selling expenses 10,500 Administrative expenses 7,300 Total selling and administrative expenses 17,800 Net operating income 22,570 Interest expense 87e Net income before taxes 21,7ee Income taxes 8,689 Net income 13,02e Dividends to common stockholders 280 Net income added to retained earnings 12,740 Beginning retained earnings 34,558 Ending retained earnings $ 47,298 1e, see 6,100 16,600 7,400 870 6,530 2,612 3,918 700 3,218 31, 340 $ 34,558 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 tumover 2. Average collection period 3. Inventory turnover 4. Average solo period 5. Operating cycle 6. Total asset turnover days days