Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31...
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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 600,000 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 $24. 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 answer to 2 decimal pleces.) 2 Average collection period. (Use 355 deys In a yeor. Round your Intermecllate calculetlons and final answer to 2 decimal pleces.) 3. Inventory turnover. (Round your answer to 2 declmal places.) 4. Average sale period. (Use 365 deys in a year. Round your Intermedlate coleulatlons and flnal answer to 2 declmal pleces.) 5. Operating cycle. (Round your Intermedlate calculetlons and flnal answer to 2 declmel pleces.) 6. Total asset turnover. (Round your answer to 2 decimal pleces.)
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