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 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 $21. All of the company’s sales
are on account.
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.)