Question: please answer this correctly! questions 1-6 ill give you a good rating! Comparative financial statements for Weller Corporation, a merchandising company, for the year ending


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 50 75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $23. All of the company's sales are on account This Year Last Yon $ 1.270 9.900 13,100 650 24,920 5.1.260 7.400 11,800 660 21, 120 10,100 50,393 60,493 $ 85,413 10,100 42,024 52,124 5 73.244 Weller Corporation Comparative Balance sheet (dollars in thousande) Assets Current assets Cash Accounts receivable, Det Inventory Prepaid expenses Total current assets Property and equipment Land Buildings and equipment, net Total property and equipment Total at Liabilities and stockholders' Equity Current abilities: Accounts payable Accrued abilities Notes payable, short term Total current liabilities Long-term liabilities Bonds payable Total Habilities Stockholders' equity Common stock Additionat pa din capital Total paid-in capital Retained earnings Total stockholders' equity Total abilities and stockholders' equity 5:19,300 1,000 150 20,450 $ 17,700 760 150 18.610 9.500 30.050 9,600 21.210 600 600 6.000 4,000 4,600 4,600 50,76 40, 434 55.363 45,034 $85.413 5 73,244 Woller Corporation Comparative Income Statement and Reconciliation dollar in thousands This Year Last Year Sales $ 73,525 566,000 Cost of yoods sold 32.350 33,000 2 of 10 Next > 35363 45,034 and stockholders' equity $ 85,413 $ 73.244 Neller Corporation Comparative Income Statement and Reconciliation (dollars in thousanda) Sales This Year Last Year $ 73,525 Cost of goods sold $ 66.000 Gross margin 37.350 33.000 36,175 33,000 Selling and administrative expenses: Selling expenses 10.800 10.200 Administrative expenses 6.800 6.100 Total selling and administrative expenses 17.600 16. JOO Net operating income 10,575 16,700 Interest expense 960 960 Net income before taxes 17,615 15,740 Income taxes 7.046 6.296 Not income 10,569 9.444 Dividends to common stockholders 240 450 Net income added to retained earnings 10,329 8,994 Beginning retained earnings 40.434 31.440 $ 50.763 $ 40, 434 Ending retained earnings 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.) a 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.) days 1. Accounts receivable turnover 2. Average collection period 3. Inventory tumover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days
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