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 $29. All of the company's sales are on account This Year Last Year $ 1,210 18,888 12,800 $ 1,300 6,600 12,380 .678 20,878 660 24,670 eller 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 9,180 45,259 54, 359 $79, 029 9,1 37,686 46,786 $67,656 $19,480 1,080 13e 20,538 $17,688 720 130 18,450 8.900 29,430 8,90 27,350 ET 780 788 4,000 4,700 44,899 49,599 $79, 229 4,000 4,780 35,686 40.306 $67,656 weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $76, 360 $65,000 Cost of goods sold 41,415 38.000 Gross margin Selling and administrative expenses: 34 945 27,629 Selling expenses Administrative expenses 11, 3ee 10,700 6,800 Total selling and administrative expenses 18, 10e 17 000 Net operating income 16,845 Interest expense 10,000 890 Net income before taxes 15,955 9, 110 Income taxes 6,382 3,644 Net Income 9,573 5,466 Dividends to common stockholders 280 700 Net income added to retained earnings 9,293 4,766 Beginning retained earnings 35, 606 38,840 Ending retained earnings $44,899 $35,606 630 890 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 calculatlons and final answer to 2 decimal places.) 5. Operating cycle (Round your Intermediate calculations and final answer to 2 decimal places.) ho 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 0. Total asset turnover days days