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Required: 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 $800,000$ shares of common stock were outstanding. The

interest rate on the bond payable was $12\%,$ the income tax rate was $40\%,$ and the dividend per share of common stock was $$0\mathrm{.}75$ last

year and $$0\mathrm{.}40$ this year. The market value of the company's common stock at the end of this year was $$18.$ All of the company's sales

are on account. Required:

Compute the following financial data for this year:

Accounts receivable turnover. $($Assume that all sales are on account.$)$

Note: Round your answer to $2$ decimal places.

Average collection period.

Note: Use $365$ days in a year. Round your intermediate calculations and final answer to $2$ decimal places.

Inventory turnover.

Note: Round your answer to $2$ decimal places.

Average sale period.

Note: Use $365$ days in a year. Round your intermediate calculations and final answer to $2$ decimal places.

Operating cycle.

Note: Round your intermediate calculations and final answer to $2$ decimal places.

Total asset turnover.

Note: Round your answer to $2$ decimal places.

Answer is complete but not entirely correct.

Compute the following financial data for this year:

Accounts receivable turnover. $($Assume that all sales are on account.$)$

Note: Round your answer to $2$ decimal places.

Average collection period.

Note: Use $365$ days in a year. Round your intermediate calculations and final answer to $2$ decimal places.

Inventory turnover.

Note: Round your answer to $2$ decimal places.

Average sale period.

Note: Use $365$ days in a year. Round your intermediate calculations and final answer to $2$ decimal places.

Operating cycle.

Note: Round your intermediate calculations and final answer to $2$ decimal places.

Total asset turnover.

Note: Round your answer to $2$ decimal places.

Answer is complete but not entirely correct.

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 $800,000$ shares of common stock were outstanding. The

interest rate on the bond payable was $12\%,$ the income tax rate was $40\%,$ and the dividend per share of common stock was $$0\mathrm{.}75$ last

year and $$0\mathrm{.}40$ this year. The market value of the company's common stock at the end of this year was $$18.$ All of the company's sales

are on account.

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