ing Decembe . A total of 800.000 shares of common stock able was 12%, the income tax rate was 40%, and the dividend per share of common stock w 5 last year and $0.40 this year. The market value of the company's common stock at the end year was $18. 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 $ 1,280 12,300 9.700 1,800 $ 1,560 9,100 8,200 2.100 20,960 25,080 Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment 6,000 19,200 25,200 6,000 19,000 25,000 $45,960 Total assets $50,280 (Continued on next page) EXERCISE 16-3 Financial Ratios for Asset Management LO 16-3 Refer to the data in Exercise 16-2 for Weller Corporation. Required: Compute the following financial data for this year: 1. Accounts receivable turnover. (Assume that all sales are on account.) 2. Average collection period. 3. Inventory turnover. 4. Average sale period. 5. Operating cycle. 6. Total asset turnover. EXERCISE 16-3 Financial Ratios for Asset Management LO 16-3 Refer to the data in Exercise 16-2 for Weller Corporation. Required: Compute the following financial data for this year: 1. Accounts receivable turnover. (Assume that all sales are on account.) 2. Average collection period. 3. Inventory turnover. 4. Average sale period. 5. Operating cycle. 6. Total asset turnover. ing Decembe . A total of 800.000 shares of common stock able was 12%, the income tax rate was 40%, and the dividend per share of common stock w 5 last year and $0.40 this year. The market value of the company's common stock at the end year was $18. 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 $ 1,280 12,300 9.700 1,800 $ 1,560 9,100 8,200 2.100 20,960 25,080 Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment 6,000 19,200 25,200 6,000 19,000 25,000 $45,960 Total assets $50,280 (Continued on next page) EXERCISE 16-3 Financial Ratios for Asset Management LO 16-3 Refer to the data in Exercise 16-2 for Weller Corporation. Required: Compute the following financial data for this year: 1. Accounts receivable turnover. (Assume that all sales are on account.) 2. Average collection period. 3. Inventory turnover. 4. Average sale period. 5. Operating cycle. 6. Total asset turnover. EXERCISE 16-3 Financial Ratios for Asset Management LO 16-3 Refer to the data in Exercise 16-2 for Weller Corporation. Required: Compute the following financial data for this year: 1. Accounts receivable turnover. (Assume that all sales are on account.) 2. Average collection period. 3. Inventory turnover. 4. Average sale period. 5. Operating cycle. 6. Total asset turnover