Answer Happy

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
year ana U.40 this year. ine market value of the companys common stock at the ena o are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year $ 1,110 9,400 13,300 800 24,610 $ 1,280 8,300 11,300 620 21,500 10,900 45,687 56,587 $ 81,197 10,900 35,949 46,849 $ 68,349 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' Equity 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 stockholders' equity Total liabilities and stockholders' equity $ 19,100 1,000 200 20,300 $ 18,900 750 200 19,850 9,600 29,900 9,600 29,450 700 4,000 4,700 46,597 51,297 $ 81,197 700 4,000 4,700 34,199 38,899 $ 68,349
Last Year $ 65,000 41,000 24,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Sales $ 79,650 Cost of goods sold 39,360 Gross margin 40,290 Selling and administrative expenses: Selling expenses 11,500 Administrative expenses 6,700 Total selling and administrative expenses 18,200 Net operating income 22,090 Interest expense 960 Net income before taxes 21,130 Income taxes 8,452 Net income 12,678 Dividends to common stockholders 280 Net income added to retained earnings 12,398 Beginning retained earnings 34,199 Ending retained earnings $ 46,597 10,800 6,609 17,400 6,600 960 5,640 2,256 3,384 525 2,859 31,340 $ 34,199
Required: Compute the following financial data for this year 1 Accounts receivable tumover (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 tumavel (Round your answer to 2 decimal places.) Average sale period (Use 365 days in a year. Round your intermediate calculations and final answer to hidecimal places.) 5 Operating cycle (Round your intermediate calculations and final answer to 2 decimal places.) 6 Total asset tumovet (Round your answer to 2 decimal places.) day Accounts revolutnov 2. Arno Colecion period Inventory lumover 4 Average saloponed 5 Operating cyde dan dry