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 company's common stock at the end of this year was $22. 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 Accounts receivable, net Inventory $ 1,240 9,100 13,300 $ 1,280 7,400 11,400

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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 company's common stock at the end of this year was $22. All of the company's sales are on account. This Year Last Year $ 1,240 9,100 13,300 710 24,350 $ 1,280 7.480 11,408 630 20, 710 Weller Corporation Comparative Balance Sheet (dollars in thousands) 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 10,400 38,849 49,249 $73,599 10,480 34,003 44,403 $65, 113 Inces $17.700 $19,600 1,080 150 20,830 900 150 18,750 8.700 29,530 8,700 27,450 500 4,000 4,500 39,569 44,869 $73,599 500 4,000 4.500 33, 163 37.663 565, 113 Total liabilities and stockholders' equity $73,599 $65, 113 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $75,075 $64,000 Cost of goods sold 45,695 42,000 Gross margin 29,389 22.000 Selling and administrative expenses: Selling expenses 10,900 10,800 Administrative expenses 6,600 6,500 Total selling and administrative expenses 17,500 17,300 Net operating income 11,880 4,700 Interest expense 870 Net income before taxes 11,010 3,830 Income taxes 4,404 1,532 Net income 6,606 2,298 Dividends to common stockholders 200 375 Net income added to retained earnings 6,406 1,923 Beginning retained earnings 33,163 31,240 Ending retained earnings $39,569 $33,163 870 tos 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.) 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.) tes days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4 Average sale period 5. Operating cycle 6. Total asset tumover days days