The financial statements of Minnesota Mining and Manufacturing Company (3M) re- Compute ratios to analyze port net sales of $15.0 billion. Accounts receivable (net) are $2.5 billion at the beginning of the receivables.

year and $2.8 billion at the end of the year. Compute 3M's receivables turnover ratio. Compute (SO 9)

3M's average collection period for accounts receivable in days.