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 $28. 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 $ 1,180 $ 1,290 Accounts receivable, net 9,100 6,700 Inventory 13,200 12,200 Prepaid expenses 500 530 Total current assets 24,280 20.720 This Year Last Year $ 1,180 9,100 13,200 800 24,280 $ 1,290 6,700 12,200 530 20,720 10,200 40,076 50,276 $74,556 10,200 37,662 47,862 $68,582 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 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 $19,300 930 150 20,380 $18,600 710 150 19,460 9,800 30,180 9,800 29,260 700 4,000 4,700 39,676 44,376 $74,556 708 4,000 4,700 34,622 39,322 $68,562 Last Year $65,000 40,000 25,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $74,260 Cost of goods sold 46,990 Gross margin 27,270 Selling and administrative expenses: Selling expenses 10,700 Administrative expenses 6,700 Total selling and administrative expenses 17,400 Net operating income 9,870 Interest expense 980 Net income before taxes 8,890 Income taxes 3,556 Net income 5,334 Dividends to common stockholders 280 Net income added to retained earnings 5,054 Beginning retained earnings 34,622 Ending retained earnings $39,676 10,400 6,900 17,300 7,700 980 6,720 2,688 4,032 350 3,682 30,940 $34,622 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 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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle days days