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 $27. All of the company's sales are on account. points Waller Corporation Comparative Balance Sheet (dallars in thousanda) Samoa Recounts receivable, net $ 1,180 9.800 $1,220 7,200 12. 200 References Prepaid expenses Total current assets Property and equipment 21,220 10,400 38,456 43,242 53.602 $79,172 $70,076 $18,700 Buildings and equipment, net Total property and equipment Total asset Liabilities and steekholders' Equity Current liabilities Accounts payable Meered liabilities Notes payable, short term Total current liabilities Tong-term liabilities Bonds payable Total liabilities Stockholders equity Contok Additional paid in capital Total paid-in capital Retained earnings .000 4.500 140 19,310 19,810 Notas payable, short term Total current liabilities Long-term isabilities: Bonde payable Total liabilities Stockholders' equity 8.900 28,710 8.900 20,210 500 500 Additional paid in capital Total paid-i capital Retained ning Total stockholders' equity Total liabilities and stockholders' quity points $79,172 (8 03:4034 Waller Corporation Comparative Income Statement and Reconciliation dollars in thousands) This Year Last Year $72,250 65,000 Coat of goods sold 39.000 36.000 Gross margin 33.250 29.000 selling and administrative expenses Selling expenses 11,200 10,500 Administrative expenses 6.500 5,000 Total selling and administrative expenses 17.700 16.900 Net operating income 15,550 12,100 Interest expense 90 Net income before taxes 14.660 1.210 Thcome taxes 5.866 6.484 Net Income 8.796 6,726 Dividends to common stockholders Net income added to retained earnings 6.226 Beginning retained earnings 37.366 31.140 Ending retained earnings $45.962 $37,366 SOD 8.596 Chapter Fifteen Homework Help Seve 6,726 Nat income Dividends to common stockholders Net ineen added to retained earning Beginning retained earnings Ending retained earnings 3.596 37.366 $45,962 31,140 $37,366 Required: Compute the following financial data for this year. 3 02-1021 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.) Book days 1. Accounts receivable turnover 2 Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover
