4. Leggett & Platt, Inc. reported net sales of $3,636.0 million in 2011 and $3,359.1 million in 2010. The asset side of the balance sheet follows, below. Use this information to answer the required LEGGETT & PLATT, INCORPORATED Consolidated Balance Sheets December 31 (in millions) Cash and cash equivalents Accounts and other receivables, net of allowance of 2011 $ 236.3 503.6 2010 $ 244.5 478.9 $24.3 and $22.1 Finished goods Work in process Raw materials and supplies LIFO reserve Total inventories, net 261.3 41.5 223.9 85.7 441.0 241.1 47.7 218.2 71.7 435.3 Other current assets Total current assets 43.1 1,224.0 60.4 1,219.1 Machinery and equipment Buildings and other Land Total property, plant and equipment Less accumulated depreciation Net property, plant and equipment Goodwill 1,120.1 608.5 45.2 1,773.8 1,193.2 580.6 926.6 1,136.6 613.0 48.5 1,798.1 1,173.9 624.2 930.3 Other intangibles, less accumulated amortization of $76.9 and $65.9 at December 31, 2008 and 2007, respectively Sundry TOTAL ASSETS 116.6 67.3 $2,915.1 152.3 75.1 $3.001.0 Required: a. What is the company's gross amount of receivables at the end of 2011 and 2010? b. Compute the common-sized gross accounts receivable, for both years. Interpret the year-over-year change in this ratio. Compute the allowance for doubtful accounts to gross accounts receivable, for both years. Interpret the year-over-year change in this ratio Based on the ratios you calculated, form an opinion about the quality of the company's accounts receivable c. d