Exerclse 16-3 (Algo) FInanclal Ratlos for Asset Management [LO16-3] 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 500,000 shares of common stock were outstanding. The nterest 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 vear and $0.40 this year. The market value of the company's common stock at the end of this year was $23. All of the company's sales are on account. Requlred: Compute the following financial data for this year: 1. Accounts receivable turnover. (Assume that all sales are on account.) (Round your onswer to 2 declmal ploces.) 2 Average collection period. (Use 363 days In a year. Round your Intermedlate calculations and flnal 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 Intermedlate calculatlons and flnal answer to 2 declmal places.) 5. Operating cycle. (Round your Intermedlate calculatlons and flnal answer to 2 declmal pleces.) 6. Total asset turnover. (Round your answer to 2 declmal places.)