Presented below are selected financial data from the Bristol-Myers Squibb 2015 annual report. Using the ratio definitions from Exhibit 4.6, calculate the following ratios:

receivable turnover, receivable collection period, inventory turnover, and the inventory-on-hand period. Evaluate Bristol-Myers’ receivable and inventory asset management effectiveness.

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(amounts in millions) Balance sheet Accounts receivable (net).. Inventory Income statement Net sales..... Cost of goods sold 2015 2014 $ 4,299 1,221 $ 3,390 1,560 $16,560 $15,879 3,909 3,932