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 this year was $28. 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 $ 1,270 $ 1,330 Accounts receivable, net 10,800 7.600 Inventory 13,700 11,100 Prepaid expenses 790 530 Total current assets 26,560 20,560 Property and equipment: Land 9,800 Buildings and equipment, net 51,631 9,800 40.725 CERE 9,800 51,631 61,431 $ 87,991 9,800 48,725 50, 525 $ 71,085 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 $ 19,700 950 140 20,790 $ 18,900 820 140 19,860 10,000 30,790 10,000 29,860 see 4,000 4,500 52,701 57,201 $ 87,991 see 4,000 4,500 36,725 41,225 $ 71,085 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Thi Veen VAS Last Year $ 64, eee 37,eee 27, eee Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 86,480 Cost of goods sold 40,920 Gross margin 45,560 Selling and administrative expenses: Selling expenses 11,100 Administrative expenses 6,500 Total selling and administrative expenses 17,6ee Net operating income 27,960 Interest expense 1, Net income before taxes 26,960 Income taxes 10,784 Net income 16,176 Dividends to common stockholders 200 Net income added to retained earnings 15,976 Beginning retained earnings 36,725 Ending retained earnings $ 52,701 10,100 6,300 16,400 12,600 1,000 9,680 3,840 5,760 375 5,385 31, 340 $ 36,725 Required: Compute the following financial data for this year 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 perlod (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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle Total asset turnover days days