Exercise 14-3 (Algo) Financial Ratios for Asset Management [LO14- 3] 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 700,000 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 ny's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year able, net quipment, net equipment \begin{tabular}{rr} $1,110 & $1,370 \\ 10,400 & 7,100 \\ 12,800 & 12,000 \\ 700 & 600 \\ \hline 25,010 & 21,070 \\ \hline 10,600 & 10,600 \\ 47,827 & 41,412 \\ \hline 58,427 & 52,012 \\ \hline$83,437 & $73,082 \\ \hline \hline \end{tabular} tockholders' Equity s: ies hor ili ies \begin{tabular}{rr} $19,000 & $18,500 \\ 950 & 730 \\ 250 & 250 \\ \hline 20,200 & 19,480 \end{tabular} \begin{tabular}{rr} 9,800 & 9,800 \\ \hline 30,000 & 29,280 \\ \hline \end{tabular} in capital tal equity and stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year 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.) rorporation itatement and Reconciliation les are on account.) (Round your r. Round your intermediate