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 $21. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash 5 1,120 $ 1,398 Accounts receivable, net 10,100 6.900 Inventory 12,200 11,990 Prepaid expenses 760 510 Total current assets 24, 180 20,700 Property and equipment: Land 10,900 10,900 Buildings and equipment, net 50, 151 39,450 Total property and equipment 61,051 50350 Total assets $ 85,231 $ 71,050 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 19,800 $ 18,800 Accrued liabilities 9:40 710 Notes payable. short term 280 280 Total current liabilities 21,020 19,790 Long-term abilities: Bonds payable 3.500 8,500 Total liabilities 29,520 28,290 Stockholders' equity Common stock 600 600 Additional paid in capital 4,000 4.000 Total poid-in capital 4,600 4,600 Retained earnings 51. 111 30, 160 Total stockholders equity 552211 Total liabilities and stockholders' equity 5.85,231 $ 71,050 850 weiter corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 79,900 $ 65,000 Cost of goods sold 39,765 35,000 Gross margin 40,135 30,000 Selling and administrative expenses: Selling expenses 10,700 10,600 Administrative expenses 6,600 6,600 Total selling and administrative expenses 17,300 17,200 Net operating income 22,835 12,800 Interest expense 850 Net Incone before taxes 21,985 11,950 Income taxes 8,794 4,780 Net income 13, 191 7,170 Dividends to common stockholders 240 450 Net Incone added to retained earnings 12,951 6,720 Beginning retained earnings 38, 160 31,440 Ending retained earnings $ 51,111 $ 38,160 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 days days