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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 500,000 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 companys common stock at the end of this year was $24. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year	Last Year
Assets
Current assets:
Cash	$ 1,130	$ 1,240
Accounts receivable, net	9,300	7,500
Inventory	13,100	11,600
Prepaid expenses	660	680
Total current assets	24,190	21,020
Property and equipment:
Land	9,400	9,400
Buildings and equipment, net	41,320	36,811
Total property and equipment	50,720	46,211
Total assets	$ 74,910	$ 67,231
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 20,100	$ 19,200
Accrued liabilities	1,070	760
Notes payable, short term	220	220
Total current liabilities	21,390	20,180
Long-term liabilities:
Bonds payable	8,900	8,900
Total liabilities	30,290	29,080
Stockholders' equity:
Common stock	500	500
Additional paid-in capital	4,000	4,000
Total paid-in capital	4,500	4,500
Retained earnings	40,120	33,651
Total stockholders' equity	44,620	38,151
Total liabilities and stockholders' equity	$ 74,910	$ 67,231

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year	Last Year
Sales	$ 75,600	$ 64,000
Cost of goods sold	45,695	42,000
Gross margin	29,905	22,000
Selling and administrative expenses:
Selling expenses	10,900	10,800
Administrative expenses	7,000	6,000
Total selling and administrative expenses	17,900	16,800
Net operating income	12,005	5,200
Interest expense	890	890
Net income before taxes	11,115	4,310
Income taxes	4,446	1,724
Net income	6,669	2,586
Dividends to common stockholders	200	375
Net income added to retained earnings	6,469	2,211
Beginning retained earnings	33,651	31,440
Ending retained earnings	$ 40,120	$ 33,651

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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