30. Computing a mputing and Evaluating Receivables, Inventory, and PPE Turnovers AM Company reports the following financial statement amounts in its 10-K report: ($ millions) Sales Cost of Sales Receivables Inventories PPE, net $31,821 2014............. 2013............. 2012....... .... $16,447 16,106 15,685 $4,238 4,253 4,061 $3,706 3,864 3,837 $8,489 8,652 8,378 29,904 a Compute the receivables, inventory, and PPE turnover ratios for both 2014 and 2013.(Receivables turnover and inventory turnover are discussed in Chapters 6 and 7, respectively.) b. What changes are evident in the turnover rates of 3M for these years? Discuss ways in which a company such as 3M can improve its turnover within each of these three areas. 30. Computing a mputing and Evaluating Receivables, Inventory, and PPE Turnovers AM Company reports the following financial statement amounts in its 10-K report: ($ millions) Sales Cost of Sales Receivables Inventories PPE, net $31,821 2014............. 2013............. 2012....... .... $16,447 16,106 15,685 $4,238 4,253 4,061 $3,706 3,864 3,837 $8,489 8,652 8,378 29,904 a Compute the receivables, inventory, and PPE turnover ratios for both 2014 and 2013.(Receivables turnover and inventory turnover are discussed in Chapters 6 and 7, respectively.) b. What changes are evident in the turnover rates of 3M for these years? Discuss ways in which a company such as 3M can improve its turnover within each of these three areas