Skipped $4$

$2\mathrm{.}5$

points

Skipped

$\backslash$table$[[\backslash$table$[[$Weller Corporation$],[$Comparative Income Statement and Reconciliation$],[($dollars in thousands$)]]],[,$This Year,Last Year$],[$Sales$,$$$82,325,$$$65,000],[$Cost of goods sold,$34,945,38,000],[$Gross margin,$47,380,27,000],[$Selling and administrative expenses:,,$],[$Selling expenses,$10,800,10,400],[$Administrative expenses,$7,200,6,900],[$Total selling and administrative expenses,$18,000,17,300,],[$Net operating income,$29,380,9,700],[$Interest expense,$990,990],[$Net income before taxes,$28,390,8,710,],[\backslash$table$[[$Income taxes$]],11,356,],[$Net income,$17,034,5,226],[$Dividends to common stockholders,$240,600],[$Net income added to retained earnings,$16,794,4,626,],[$Beginning retained earnings,$35,266,30,640,],[$Ending retained earnings,$$52,060,$$$35,266]]$

Required:

Compute the following financial data for this year:

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

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

$2.$ Average collection period.

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

$3.$ Inventory turnover.

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

$4.$ Average sale period.

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

Dividends to common stockholders

Net income added to retained earnings

Beginning retained earnings

Ending retained earnings

Required:

Compute the following financial data for this year:

Accounts receivable turnover. $($Assume 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.

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\mathrm{.}75$ last

year and $$0\mathrm{.}40$ this year. The market value of the company's common stock at the end of this year was $$29.$ All of the company's sales

are on account.