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 bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $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 Assets Current assets: Cash $ 1,120 $ 1,220 Accounts receivable, net 10,900 7,600 Inventory 12, 100 11,400 Prepaid expenses 760 630 Total current assets 24,880 20,850 Property and equipment: Land 9,600 9,600 Buildings and equipment, net 53,126 40,228 Total property and equipment 62,726 49,828 Total assets $87,606 $70,678 $19,100 1,070 240 $ 17,800 760 240 20,410 18,800 9,700 9,700 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 30,110 28,500 600 4,000 600 4,000 4,600 52,896 4,600 37,578 57,496 42,178 $87,606 $70,678 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $86,025 $66,000 Cost of goods sold 41,125 36,000 Gross margin 44,900 30,000 11,300 6,700 10,200 6,100 18,000 16,300 26,900 970 13,700 970 Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 25,930 10,372 15,558 240 12,730 5,092 7,638 600 15,318 37,578 $52,896 7,038 30,540 $37,578 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.) Accounts receivable turnover 2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) Average collection period days 3. Inventory turnover. (Round your answer to 2 decimal places.) Inventory turnover 4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) Average sale period days 5. Operating cycle. (Round your intermediate calculations and final answer to 2 decimal places.) Operating cycle days 6. Total asset turnover. (Round your answer to 2 decimal places.) Total asset turnover