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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$26.$ 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 $ $1,100$ $ $1,320$

Accounts receivable, net $10,0008,400$

Inventory $13,10010,600$

Prepaid expenses $740640$

Total current assets $24,94020,960$

Property and equipment:

Land $9,1009,100$

Buildings and equipment, net $53,22741,282$

Total property and equipment $62,32750,382$

Total assets $ $87,267$ $ $71,342$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,100$ $ $17,800$

Accrued liabilities $980800$

Notes payable, short term $280280$

Total current liabilities $20,36018,880$

Long$-$term liabilities:

Bonds payable $9,8009,800$

Total liabilities $30,16028,680$

Stockholders' equity:

Common stock $600600$

Additional paid$-$in capital $4,0004,000$

Total paid$-$in capital $4,6004,600$

Retained earnings $52,50738,062$

Total stockholders' equity $57,10742,662$

Total liabilities and stockholders' equity $ $87,267$ $ $71,342$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $87,400$ $ $65,000$

Cost of goods sold $43,84534,000$

Gross margin $43,55531,000$

Selling and administrative expenses:

Selling expenses $11,10010,200$

Administrative expenses $7,0006,700$

Total selling and administrative expenses $18,10016,900$

Net operating income $25,45514,100$

Interest expense $980980$

Net income before taxes $24,47513,120$

Income taxes $9,7905,248$

Net income $14,6857,872$

Dividends to common stockholders $240450$

Net income added to retained earnings $14,4457,422$

Beginning retained earnings $38,06230,640$

Ending retained earnings $ $52,507$ $ $38,062$

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.$)$