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 this year was $29. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,120 10,200 12,100 620 24,040 $ 1,340 7,700 11,100 610 20,750 10,400 49,077 59,477 $83,517 10,400 35, 686 46,086 $66,836 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equ Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders equity: Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholdersequity Total liabilities and stockholders' equity $19, 200 $18,000 720 280 20,400 280 19,000 8,900 29,300 8.900 27,900 700 4,000 4,700 49,517 54,217 $83,517 700 4,000 4,700 34, 236 38,936 $66,836 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales $81,445 $64,000 Cost of goods sold 37, 120 40,000 Gross margin 44, 325 24,000 Selling and administrative expenses : Selling expenses 10,900 11,000 Administrative expenses 6,600 6,200 Total selling and administrative expenses 17,500 17,200 Net operating income 26,825 6,800 Interest expense 890 890 Net income before taxes 25,935 5,910 Income taxes 10,374 2,364 Net income 15,561 3,546 Dividends to common stockholders 280 350 Net income added to retained earnings 15, 281 3, 196 Beginning retained earnings 34, 236 31,040 Ending retained earnings $49,517 $34, 236 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.) 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