3:45 Aa A) Q A E8.14 (LO 4) AN The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway Company: Calculate ratios and comment. 2017 2016 2015 Accounts $ 1,000 $ 903 $ 885 receivable, gross Allowance for 16 28 doubtful accounts Accounts 984 875 878 receivable, net Revenues 13,041 12,037 12,611 Total current 2,190 2,107 2,153 assets Total current 3,983 3,008 2,998 liabilities Instructions a. Calculate the 2017 and 2016 current ratios. 8-36 Reader Contents Notebook Bookmarks More 3:45 Aa QD 875 2017 2016 2015 Accounts $ 1,000 $ 903 $ 885 receivable, gross Allowance for 16 28 7 doubtful accounts Accounts 984 878 receivable, net Revenues 13,041 12,037 12,611 Total current 2,190 2,107 2,153 assets Total current 3,983 3,008 2,998 liabilities Instructions a. Calculate the 2017 and 2016 current ratios. b. Calculate the receivables turnover and average collection period for 2017 and 2016. c. Comment on any improvement or weakening in CN's liquidity and its management of accounts receivable. 8-36 Reader Contents Notebook Bookmarks More