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 $28. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,190 9,700 14,000 650 25,540 $ 1,330 8,400 12,600 680 23,010 10,400 40, 253 50,653 $76,193 10,400 33, 232 43,632 $66,642 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 $19,400 1,000 170 20,570 $18,100 750 170 19,020 9,300 29,870 9,300 28,320 600 4,000 4,600 41,723 46,323 $76,193 600 4,000 4,600 33,722 38,322 $66,642 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $80,545 $65,000 Cost of goods sold 47,880 42,000 Gross margin 32,665 23,000 Selling and administrative expenses: Selling expenses 11,000 10,500 Administrative expenses 7,000 6,600 Total selling and administrative expenses 18,000 Net operating income 14,665 5,900 Interest expense 930 930 Net income before taxes 13,735 4,970 Income taxes 5,494 1,988 Net income 8,241 Dividends to common stockholders 240 600 Net income added to retained earnings 8,001 2,382 Beginning retained earnings 33,722 31,340 Ending retained earnings $41,723 $33,722 17,100 2,982 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 turnover 4. Average sale period 5. Operating cycle days days 6. Total asset turnover