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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 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 the year was $21. 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 $ 1,190 $ 1,270 Accounts receivable, net 9,700 7,100 Inventory 13,900 11,600 Prepaid expenses 750 530 Total current assets 25,548 20,500 Property and equipment: Land 10,100 10,100 Buildings and equipment, net 44,715 38,517 Total property and equipment 54.815 48,617 Total assets $80,355 $69, 117 Liabilities and Stockholders. Equity Current liabilities: Accounts payable $20,100 $17,100 Accrued Liabilities 990 890 Notes payable, short tern 290 290 Total current liabilities 21,380 18,580 Long-term liabilities: Bonds payable 9,300 9,300 Total liabilities 30,680 27,880 Stockholders' equity: Common stock 700 700 Additional paid-in capital 4,000 4.000 Total paid in capital 4,700 4,700 Retained earnings 44.975 36.537 Total stockholders' equity 49,675 61,237 Total liabilities and stockholders equity $80,355 $69, 117 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $74,760 $66,000 Cost of goods sold 40,800 38,008 Gross margin 33,960 28,000 Selling and administrative expenses: Selling expenses 11,300 10,500 Administrative expenses 7,200 6,200 Total selling and administrative expenses 18.500 16,700 Net operating income 15,460 11,300 Interest expense 939 Net income before taxes 14,530 10,378 Income taxes 5,812 4,148 Net income 8,718 6,222 Dividends to common stockholders 280 525 Net Income added to retained earnings 8,438 5,697 Beginning retained earnings 36,537 30,840 Ending retained earnings $44,975 $36,537 930 Required: Compute the following financial doto 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 sole 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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days