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 the year was $23. All of the company's sales are on account Weller Corporation Comparative Balance sheet (dollars in thousanda) This Year Let Yes $1,140 9,700 12,100 690 23,630 $ 1,270 17.400 12,600 510 21,780 9,400 51,639 61,039 $84,669 9,400 42,430 51,830 $73.610 Anot Current asset Cash Accounts receivable, net Inventory Prepaid expennen Total current assets Property and equipment Land Buildings and equipment, net Total property and equipment Total anta Lisbilities and stockholders' Equity Current liabilities Accounts payable Recrued abilities Notes payable, short term Total current liabilities tong-term 1 Labilities Bonde payable Total liabilities Stockholders equity Common atook Additional paid-in capital Total paid.in capital Retained earnings Total stockholders equity Total liabilities and stockholders' equity $20,100 990 240 21.330 $19,400 820 240 20.460 8,000 29,330 B,000 28,460 500 4.000 1,500 50,839 55,339 $84,669 500 4,000 4,500 40,650 45,150 973,610 Weller Corporation Comparative Incona Statement and Reconciliation (dollars in thousands) This Year Lant Yone Sales $77,805 $66,000 Cont of goods sold 41,990 32,000 Gross margin 35,815 34,000 Selling and administrative expenses Selling expensen 11,000 10,200 Administrative expenses 6,700 6,900 Total selling and administrative expenses 17,700 17,100 Net operating income 18,115 16,900 Interest expense 800 800 Net income before taxes 17,315 16,100 Income taxes 6,906 6,440 Net income 10,389 9,660 Dividends to common stockholders 200 250 Net income added to retained earnings 10, 189 9,410 Beginning retained earnings 40,650 31,240 Ending retained earnings $50,839 $40,650 Required: Compute the following financial data for this year: 1. Accounts recelyable 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 decim 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 ple 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 6. Total asset tumover days days