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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 $075 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $25. Allof the company's sales are on account Comparative Balance Sheet (dollars in thousands) Assets This Year Last Year Current assetsi Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Butldings and equipment, net Total property and equipment Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities \begin{tabular}{rr} $1,170 & $1,300 \\ 10,10 & 6,709 \\ 12,000 & 11,200 \\ 720 & 670 \\ \hline 23,990 & 19,870 \\ \hline \end{tabular} Long-tern liabilities: Bonds payable Total liabilities Stockholdens' equity: common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders" equity Total liabilitjes and stockholders' equity \begin{tabular}{rr} 9,600 & 9,600 \\ 50,659 & 43,123 \\ \hline 60,259 & 52,723 \\ \hline$84,249 & $72,593 \\ \hline \end{tabular} \begin{tabular}{rr} $20,900 & $18,690 \\ 920 & 739 \\ 180 & 180 \\ \hline 21,100 & 19,510 \end{tabular} \begin{tabular}{rr} 9,709 & 9,700 \\ \hline 30,809 & 29,210 \\ \hline 500 & 500 \\ 4,000 & 4,000 \\ \hline 4,500 & 4,500 \\ 48,949 & 38,883 \\ \hline 53,449 & 43,383 \\ \hline$84,249 & 572,593 \\ \hline \end{tabular} Weller Corporation Comparative Income Statement and Reconciliation Required: Compute the following financial data for this year: 1. Accounts recelvable turnover. (Assume that all sales are on account) (Round your answer to 2 decimal places.) 2. Average collection perlod. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal plo 3. Inventory turnover. (Round your answer to 2 decimal places.) Required: Compute the following financial data for this year: 1. Accounts recelvable tumover. (Assume that all sales are on account.) (Round your onswer to 2 decimol ploces.) 2. Average collection period. (Use 365 days in a year. Round your intermediate calculations ond final onswer to 2 decimal places.) 3. Inventory tumover. (Round your answer to 2 decimal ploces.) 4. Average sale period. (Use 365 days in a year. Round your intermediote calculations and final answer to 2 decimal places.) 5. Operating cycle. (Round your intermediate calculations and finol answer to 2 decimal ploces.) 6. Total asset turnover. (Round your onswer to 2 decimol ploces.)
