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 600,000 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 $30. All of the company's sales are on account Heller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,140 10,400 13,500 780 25,820 $ 1,410 7.500 12,500 650 22,060 10,900 47.084 57,984 $83,804 10,900 36,568 47.468 $69,528 Assets Current assets Cash Accounts receivable, net Inventory Prepaid expenses Total Current assets Property and equipment Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Meerued liabilities Mates payable, short term Total current liabilities Long-term liabilities Bonds payable Total liabilities Blockholders' equity Common stock Additional paid-in capital Total paid in capital Retained barnings Total stockholderity Total liabilities and stockholders uity $19, 100 1,080 180 20,360 $19,200 870 180 20,250 8,200 20.560 8,200 28,650 600 4.000 4.600 600 4,000 4.600 26.478 01.078 $69.520 55,244 $83,804 weet Corporation Compartent and Macanei Islon Holland The Year RAAT AKA Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $84,130 $66,000 Cost of goods sold 41,600 38,000 Gross margin 42,530 Selling and administrative expenses: 28,000 Selling expenses 10,700 Administrative expenses 10,400 7,000 6,300 Total selling and administrative expenses 17,200 16,700 Net operating income 24,830 11,300 Interest expense 820 B20 Net income before taxes 24,010 10,480 Income taxes 9,604 4,192 Net income 14,406 6,288 Dividends to common stockholders 240 450 Net income added to retained earnings 14,166 5,838 Beginning retained earnings 36.478 30,640 Ending retained earnings $50,644 $36, 478 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.) 1.39 days 1. Accounts receivable turnover 2 Average collection period 3. Inventory turnover 4. Average sale period 6. Operating cycle 5. Total asset lumover days days