3. Leggett & Platt, Inc. reported net sales of $3,749.9 million in 2023 and $3,917.2 million in 2022. The asset side of the balance sheet follows. Use this information to answer the required.

LEGGETT & PLATT, INCORPORATED Consolidated Balance Sheets (excerpts)
(in millions)	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$281.9	$ 253.2
Trade receivables, net of allowance $7.2 and $9.3, at December 31, 2023 and 2022, respectively	450.8	448.7
Other receivables, net	35.8	71.5
Total receivables, net	486.6	520.2
Inventories:
Finished goods	255.7	242.8
Work in process	52.6	42.6
Raw materials and supplies	245.1	241.8
LIFO reserve	(33.8)	(22.6)
Total inventories, net	519.6	504.6
Prepaid expenses and other current assets	36.8	33.2
Total current assets	1,324.9	1,311.2
Property, plant and equipment - at cost:
Machinery and equipment	1,133.8	1,099.1
Buildings and other	559.4	548.2
Land	37.7	40.0
Total property, plant and equipment	1,730.9	1,687.3
Less accumulated depreciation	(1,165.4)	(1,146.5)
Net property, plant and equipment	565.5	540.8
Other Assets:
Goodwill	791.3	806.1
Other intangibles, less accumulated amortization of $137.0 and $139.8, respectively.	164.9	188.4
Sundry	137.5	117.2
Total other assets	1,093.7	1,111.7
Total assets	$2,984.1	$2,963.7

Required:

1. What is the company's gross amount of receivables at the end of 2023 and 2022?

1. Compute the common-size amount for gross accounts receivable, for both years. (Hint: Total Gross Receivables / Total Assets) Interpret the year-over-year change in this ratio.

1. Compute the allowance for doubtful accounts to gross accounts receivable, for both years. Interpret the year-over-year change in this ratio.

d. Based on the ratios you calculated, form an opinion about the quality of the company's accounts receivable.