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 $$0\mathrm{.}75$ last year and $$0\mathrm{.}40$ this year. The market value of the company$$s common stock at the end of this year was $$23.$ 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 $ $1,130$ $ $1,370$

Accounts receivable, net $9,9008,000$

Inventory $12,80011,100$

Prepaid expenses $620700$

Total current assets $24,45021,170$

Property and equipment:

Land $11,00011,000$

Buildings and equipment, net $54,78442,551$

Total property and equipment $65,78453,551$

Total assets $ $90,234$ $ $74,721$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $19,000$ $ $18,800$

Accrued liabilities $960840$

Notes payable, short term $260260$

Total current liabilities $20,22019,900$

Long$-$term liabilities:

Bonds payable $9,4009,400$

Total liabilities $29,62029,300$

Stockholders' equity:

Common stock $500500$

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

Total paid$-$in capital $4,5004,500$

Retained earnings $56,11440,921$

Total stockholders' equity $60,61445,421$

Total liabilities and stockholders' equity $ $90,234$ $ $74,721$

Weller Corporation

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $85,025$ $ $66,000$

Cost of goods sold $40,63032,000$

Gross margin $44,39534,000$

Selling and administrative expenses:

Selling expenses $10,70010,100$

Administrative expenses $7,1006,200$

Total selling and administrative expenses $17,80016,300$

Net operating income $26,59517,700$

Interest expense $940940$

Net income before taxes $25,65516,760$

Income taxes $10,2626,704$

Net income $15,39310,056$

Dividends to common stockholders $200375$

Net income added to retained earnings $15,1939,681$

Beginning retained earnings $40,92131,240$

Ending retained earnings $ $56,114$ $ $40,921$

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.$)$