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 500,000 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 companys common stock at the end of this year was $21. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year	Last Year
Assets
Current assets:
Cash	$ 1,240	$ 1,390
Accounts receivable, net	9,100	7,500
Inventory	13,000	11,900
Prepaid expenses	680	640
Total current assets	24,020	21,430
Property and equipment:
Land	10,800	10,800
Buildings and equipment, net	51,270	40,699
Total property and equipment	62,070	51,499
Total assets	$ 86,090	$ 72,929
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 20,400	$ 19,000
Accrued liabilities	1,100	890
Notes payable, short term	120	120
Total current liabilities	21,620	20,010
Long-term liabilities:
Bonds payable	9,100	9,100
Total liabilities	30,720	29,110
Stockholders' equity:
Common stock	500	500
Additional paid-in capital	4,000	4,000
Total paid-in capital	4,500	4,500
Retained earnings	50,870	39,319
Total stockholders' equity	55,370	43,819
Total liabilities and stockholders' equity	$ 86,090	$ 72,929

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year	Last Year
Sales	$ 74,700	$ 65,000
Cost of goods sold	36,105	33,000
Gross margin	38,595	32,000
Selling and administrative expenses:
Selling expenses	11,000	10,400
Administrative expenses	7,100	6,600
Total selling and administrative expenses	18,100	17,000
Net operating income	20,495	15,000
Interest expense	910	910
Net income before taxes	19,585	14,090
Income taxes	7,834	5,636
Net income	11,751	8,454
Dividends to common stockholders	200	375
Net income added to retained earnings	11,551	8,079
Beginning retained earnings	39,319	31,240
Ending retained earnings	$ 50,870	$ 39,319

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.)

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 820,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, 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 companys common stock at the end of this year was $19. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year	Last Year
Assets
Current assets:
Cash	$ 3,812	$ 3,980
Accounts receivable, net	12,500	9,200
Inventory	9,800	8,280
Prepaid expenses	1,820	2,140
Total current assets	27,932	23,600
Property and equipment:
Land	6,200	6,200
Buildings and equipment, net	19,400	19,200
Total property and equipment	25,600	25,400
Total assets	$ 53,532	$ 49,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 9,700	$ 8,400
Accrued liabilities	640	800
Notes payable, short term	320	320
Total current liabilities	10,660	9,520
Long-term liabilities:
Bonds payable	7,500	7,500
Total liabilities	18,160	17,020
Stockholders' equity:
Common stock	820	820
Additional paid-in capital	4,300	4,300
Total paid-in capital	5,120	5,120
Retained earnings	30,252	26,860
Total stockholders' equity	35,372	31,980
Total liabilities and stockholders' equity	$ 53,532	$ 49,000

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year	Last Year
Sales	$ 81,000	$ 76,000
Cost of goods sold	53,000	49,000
Gross margin	28,000	27,000
Selling and administrative expenses:
Selling expenses	8,700	8,200
Administrative expenses	12,200	11,200
Total selling and administrative expenses	20,900	19,400
Net operating income	7,100	7,600
Interest expense	900	900
Net income before taxes	6,200	6,700
Income taxes	2,480	2,680
Net income	3,720	4,020
Dividends to common stockholders	328	656
Net income added to retained earnings	3,392	3,364
Beginning retained earnings	26,860	23,496
Ending retained earnings	$ 30,252	$ 26,860

Required:

Compute the following financial data for this year:

1. Gross margin percentage. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

2. Net profit margin percentage. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

3. Return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

4. Return on equity. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).)