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 700,000 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 $ 1,130 $ 1,250 Accounts receivable, net 10,800 6,800 Inventory 12, 100 11,700 Prepaid expenses 760 700 Total current assets 24,790 20,450 Property and equipment: Land 10,200 10, 200 Buildings and equipment, net 41,912 36,568 Total property and equipment 52,112 46,768 Total assets $ 76,902 $ 67,218 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 19,400 $ 19,000 Accrued liabilities 950 860 Notes payable, short term 200 200 Total current liabilities 20,550 20,060 Long-term liabilities: Bonds payable 8,700 8,700 Total liabilities 29, 250 28,760 Stockholders' equity: Common stock 700 700 200 20,550 200 20,060 8,700 29, 250 8,700 28,760 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 700 4,000 4,700 42,952 47,652 $ 76,902 700 4,000 4,700 33,758 38,458 $ 67,218 Last Year $ 65,000 40,000 25,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 80,080 Cost of goods sold 45,220 Gross margin 34,86 Selling and administrative expenses: Selling expenses 11,200 Administrative expenses 7,000 Total selling and administrative expenses 18,200 Net operating income 16,660 Interest expense 870 Net income before taxes 15,790 Income taxes 6,316 Net income 9,474 Dividends to common stockholders 280 Net income added to retained earnings 9,194 Beginning retained earnings 33,758 Ending retained earnings $ 42,952 11,000 6,600 17,600 7,400 870 6,530 2,612 3,918 700 3,218 30,540 $ 33,758 - Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings 280 9,194 33,758 $ 42,952 700 3,218 30,540 $ 33,758 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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days