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Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal 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 $1.00. The market value of the companys common stock at the end of the year was $22. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year			Last Year
Assets
Current assets:
Cash	$	1,150		$	1,340
Accounts receivable, net		10,600			7,800
Inventory		12,300			12,400
Prepaid expenses		620			690
Total current assets		24,670			22,230
Property and equipment:
Land		9,600			9,600
Buildings and equipment, net		49,364			33,682
Total property and equipment		58,964			43,282
Total assets	$	83,634		$	65,512
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	19,000		$	17,500
Accrued liabilities		960			760
Notes payable, short term		250			250
Total current liabilities		20,210			18,510
Long-term liabilities:
Bonds payable		8,300			8,300
Total liabilities		28,510			26,810
Stockholders' equity:
Common stock		600			600
Additional paid-in capital		4,000			4,000
Total paid-in capital		4,600			4,600
Retained earnings		50,524			34,102
Total stockholders' equity		55,124			38,702
Total liabilities and stockholders' equity	$	83,634		$	65,512

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year			Last Year
Sales	$	81,880		$	65,000
Cost of goods sold		34,580			41,000
Gross margin		47,300			24,000
Selling and administrative expenses:
Selling expenses		10,900			10,700
Administrative expenses		7,200			6,200
Total selling and administrative expenses		18,100			16,900
Net operating income		29,200			7,100
Interest expense		830			830
Net income before taxes		28,370			6,270
Income taxes		11,348			2,508
Net income		17,022			3,762
Dividends to common stockholders		600			600
Net income added to retained earnings		16,422			3,162
Beginning retained earnings		34,102			30,940
Ending retained earnings	$	50,524		$	34,102

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.)

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