Question: please help asap please help Comparative financial statements for Weier Corporation, a merchandising company for the year ending December appear below The company did not

Comparative financial statements for Weier Corporation, a merchandising company for the year ending December appear below The company did not see 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 to the income tax tewas 40, the dividend porshof common stock was $0.75 year and 50:40 year. The market value of the company's common at the end of this year was 521 Alerthe company are on account er Corp ce titolare the misser A Aranet try Tokaler ty tana 100 12.11 18 11 10.11 . ATE Liderity Maybe 201 Total Lors TH 1. 100 an 5.10 30. 5. Carte Tancata din Te males S18120 Couto de dragi Welling felling Adve Total Water 11.30 18 Het Inforeta It 13 Wet DIVL to where incontrare Being retained at Interest 113 . 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 finanswer to decimal places 3. Inventory turnover found your answer to 2 decimal places.) Average sale period. (Use 365 days in a year. Bund your intermediate calculations and final warto 2 decimal places) 5 Operating cycle found your intermediate calculations and final answer to 2 decimal places) 6. Totaltumovet Round your answer to 2 decimal places) 1 Account 2. Average collection inventarymo 4. Arges Singer To 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.TH 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 las 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 sale are on account Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,160 $ 1,390 Accounts receivable, net 9,700 8,100 Inventory 12,400 11,800 Prepaid expenses 780 610 Total current assets 24,040 21,900 Property and equipment: Land 10,200 10,200 Buildings and equipment, not 48,064 38.996 Total property and equipment 58,264 49.196 Total asets $ 82,304 $ 71,096 Liabilities and Stockholders! quity Current liabilities: Accounts payable $ 19,900 $ 18,900 Accrued liabilities 750 Notes payable, short term 240 240 Total current liabilities 21,120 19,890 Long-term liabilities Bonds payable 9,400 9,400 Total liabilities 30,520 29.290 Stockholders' equity 600 600 Common stock Additional paid-in capital 4.000 4.000 4,600 4.600 Total paid-in capital 47.184 37,206 Retained earningo 980 Last Year $ 64,000 34,000 30,000 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousando) This Year Sales $ 78,320 Cost of goods sold 42,350 Gross margin 35,970 Selling and administrative expenses: Selling expenses 11,300 Administrative expenses 6.700 Total selling and administrative expenses 18,000 Net operating income 17,970 Interest expense 940 Net income before taxes 17.030 Income taxe 6,812 Net income 10,218 Dividends to common stockholders 240 Net income added to retained earnings 9,978 Beginning retained earnings 37,206 Ending retained earnings $ 47,184 10,900 6,300 17,200 12,800 940 11,860 4,744 7,116 450 6,666 30, 540 $ 37,206 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.) 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover days
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
