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 Accounts receivable, net Inventory Prepaid expenses Total current assets $ 1,190 10,300 $ 1,390 13,600 8,400 11,600 600 690 25,690 22,080 Property and equipment: Land 9,300 9,300 Buildings and equipment, net 51,284 41,427 Total property and equipment 60,584 50,727 $ Total assets $ 72,807 86,274 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities $ $ 19,100 20,200 1,030 880 260 260 21,490 20,240 Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: Common stock 9,300 9,300 30,790 29,540 500 500 Additional paid-in capital 4,000 4,000 Total paid-in capital 4,500 4,500 Retained earnings 50,984 38,767 Total stockholders' equity 55,484 43,267 $ Total liabilities and stockholders' equity $ 72,807 86,274 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $ 85,085 $ 65,000 Cost of goods sold 45,360 34,000 Gross margin 39,725 31,000 Selling and administrative expenses: Selling expenses 11,500 10,200 Administrative expenses 6,600 6,700 Total selling and administrative expenses 18,100 16,900 Net operating income 21,625 14,100 Interest expense 930 Net income before taxes Income taxes 20,695 8,278 930 13,170 5,268 Net income 12,417 7,902 Dividends to common stockholders 200 375 Net income added to retained earnings 12,217 7,527 Beginning retained earnings 38,767 31,240 Ending retained earnings $ 50,984 $ 38,767 Required: Compute the following financial data for this year: 1. Accounts receivable turnover. (Assume all sales are on account.) Note: Round your answer to 2 decimal places. 2. Average collection period. Note: Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places. 3. Inventory turnover. Note: Round your answer to 2 decimal places. 4. Average sale period. Note: Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places. 5. Operating cycle. Note: Round your intermediate calculations and final answer to 2 decimal places. 6. Total asset turnover. Note: Round your answer to 2 decimal places. 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days days