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 $22. All of the company's sales are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assetsi Cash $ 1,160 $ 1,400 Accounts receivable. net 9.000 8,100 Inventory 13,800 12,300 Prepaid expenses 730 650 Total current auto 26.690 227450 Property and equipment: Land 10,400 10,400 Buildings and equipment, net 46,843 37.434 Total property and equipment 53,243 47,34 Total assets $81.933 $70,284 Liabilities and stockholders' quity Current liabilities Accounts payable $20,300 $17,600 Accrued liabilities 950 Notes payable, short tem 100 100 Total current liabilities 21,350 18,570 Long-term liabilities: Bonds payable 9.100 9 100 Total liabilities 30/450 127,670 Stockholders' equity Common stock 500 500 Additional paid-in capital 4.000 4.000 Total paid-in capital 4,500 4,500 Retained earnings 46.983 10.114 Total stockholders' equity S. 02/64 Total liabilities and stockholders' equity $81.933 $70,284 870 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $72,675 366,000 Coat of goods sold 12.150 36.000 Gross margin 33,52 30,000 Selling and administrative expenses Selling expenses 10,500 10,100 Adminiatrative expenses 7.000 6200 Total selling and administrative expenses 30 RO Net operating Income 16,025 15,200 Interest expense 910 910 Net Income before taxes 15115 12,290 Income taxes 6.040 4.910 Weller Corporation Comparative Income Statement and Reconciliation (dollar in thousands) This Year Last Year Sales $72,675 $66,000 Cont of goods sold 39 150 36,000 Gross margin 33525 30.000 Selling and administrative expenses Selling expennen 10,500 10,100 Administrative expenses 7,000 6,700 Total selling and administrative expenses 17500 16,800 Net operating income 16,025 13,200 Interest expense 910 910 Net Income before taxes 15,115 12,290 Income taxes 6,046 4,916 Net Income 9,069 7.374 Dividends to common stockholders 200 500 Net income added to retained earnings 8.869 6,874 Deginning retained earnings 38, 114 31.240 Ending retained earnings $46,983 $38, 114 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 tumover 4. Average sale period 6. Operating cycle 0. Total set turnover days days