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Please answer the question clear. Thank you Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The
Please answer the question clear. Thank you
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. Th 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 $25. All of the company's sale are on account. Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities \begin{tabular}{rr} $19,600 & $18,300 \\ 1,050 & 760 \\ 220 & 220 \\ \hline 20,870 & 19,280 \end{tabular} Long-term liabilities: Bonds payable Total liabilities \begin{tabular}{rr} 8,000 & 8,000 \\ \hline 28,870 & 27,280 \\ \hline \end{tabular} Stockholders' equity: Common stock Total paid-in capital \begin{tabular}{rr} 700 & 700 \\ 4,000 & 4,000 \\ \hline 4,700 & 4,700 \end{tabular} Retained earnings Total stockholders' equity Total liabilities and stockholders' equity \begin{tabular}{rr} 51,424 & 34,415 \\ \hline 56,124 & 39,115 \\ \hline$84,994 & $66,395 \\ \hline \hline \end{tabular} 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.) 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.)Step by Step Solution
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