Accounts Receivable Turnover H.J. Heinz Company was founded in 1869 at Sharpsburg, Pennsylvania, by Henry J. Heinz. The company manufactures and markets food products throughout the world, including ketchup, condiments and sauces, frozen food, pet food, soups, and tuna. For two recent years, H.J. Heinz reported the following (in thousands): Year 2 Year 1 Sales $11,649,079 $10,706,588 Accounts receivable 993,510 1,265,032 Assume that the accounts receivable (in thousands) were $1,045,338 at the beginning of Year 1. The Limited Brands Inc. sells women's clothing and personal health care products through specialty retail stores including Victoria's Secret and Bath & Body Works stores. The Limited Brands reported the following (in millions) for two recent years: Year 2 Year 1 Sales $10,364 $9,613 Accounts receivable 269 267 Assume that the accounts receivable (in millions) were $249 at the beginning of Year 1. Use the above information to analyze the accounts receivable turnover ratios of H.J. Heinz Company and The Limited Brands Inc. a. Compute the average accounts receivable turnover ratio for The Limited Brands Inc. and H.J. Heinz Company for Year 2 and Year 1. Round interim calculations and final answers to one decimal place. The Limited Brands Inc.: H.J. Heinz Company: b. Does The Limited Brands or H.J. Heinz Company have the higher average accounts receivable turnover ratio? The Limited Brands