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 $22. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $1,270 10,600 12,100 670 24,640 $ 1,350 7,900 11,400 640 21,290 10,000 4R.610 58,630 $83,270 10,000 36,540 46,540 $67,830 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 hccrued liabilities Hotes payable, short term Total current liabilities Long-term Itabilities Bonds payable Total liabilities Stockholders' equity: Connon stock Additional paid in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 518,500 1,000 150 19,650 $18,000 820 150 18,970 3.500 28.150 3.500 27.470 600 4,000 4.600 50.520 55. 120 $83,270 600 4,000 4,600 35.760 40,160 $67,830 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $84,175 $65,000 Cost of goods sold 41,125 38,000 Gross margin 43,050 27,000 Selling and administrative expenses: Selling expenses 10,600 10,700 Administrative expenses 6,600 Total selling and administrative expenses 17,200 17,700 Net operating income 25,850 9,300 Interest expense 850 850 Not income before taxes 25,000 8.450 Income taxes 10.000 3,380 Not income 15,000 5,070 Dividends to common stockholders 240 450 Het Income added to retained earnings 14,760 4.620 Beginning retained earnings 35.760 3,240 Ending retained earnings $50,520 $35, 760 7.000 ok et TV ences 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.) 9.50 days 3,00 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset tumover days days 165.30 0.98