already finished the rest just need help on the last part MAD 8-4

TER MAD 8-4 Compare Ralph Lauren and L Brands Obj. 8 Use the data in MAD 8-2 and MAD 8-3 to analyze the accounts receivable turnover ratios of Ralph Lauren Corporation and L Brands, Inc. 1. Compute the accounts receivable turnover ratios for Ralph Lauren and L Brands for the years shown in MAD 8-2 and MAD 8-3. Average the accounts receivable turnover ratio for the two years. Round all calculations to one decimal place. 2. Does L Brands or Ralph Lauren have the higher average accounts receivable turnover ratio? 3. What might explain the difference in the average accounts receivable turnover ratios between the two companies? Obj. 8 Ralph Lauren Corporation (RL) designs, markets, and distributes a variety of apparel, home dcor, accessory, and fragrance products. The company's products include such brands as Ralph Lauren, Polo by Ralph Lauren, and Chaps. For two recent years, the company reported the following in millions): 655 Year 2 Year 1 Sales $7,230 $7,451 Accounts receivable (end of year) The accounts receivable at the beginning of Year 1 was $588 million. 1. Compute the accounts receivable turnover for Year 1 and Year 2. Round to one decimal place. 1. Average account receivables Year 1 =621.5 (588+655/2) 1. Account Receivable Turnover ratio year 1=11.9 (7,451/621,5) 2. Average account receivables Year 2 = 586 (655+517/2) 1. Account Receivable Turnover ratio year 2 = 12.3 (7,230/586) 2. Compute the number of days' sales in receivables for Year 1 and Year 2. Use 365 days and round all calculations to one decimal place. 1. Year 1 = 30.7 days (365/11.9) 2. Year 2 = 29.7 days (365/12.3) 3. What conclusions can be drawn from these analyses regarding Ralph Lauren's efficiency in collecting receivables 1. Year 2 was better because it is higher MAD 8-3 Analyze L Brands Obj. 8 L Brands, Inc. (LB) sells women's clothing and personal health care products through specialty retail stores including Victoria's Secret and Bath & Body Works stores. L Brands reported the following in millions) for two recent years: Year 2 Year 1 Sales $12,154 $11,454 Accounts receivable: Beginning of year 252 244 End of year 261 252 1. Determine the accounts receivable turnover for Year 1 and Year 2. Round all calculations to one decimal place. Average account receivables Year 1 = 248 (244+252/2) Account Receivable Turnover year 1=46.2 (11.454/248) Average account receivables Year 2 =256.5 (252+261/2) Account Receivable Turnover year 2 = 47.4 (12,154/256.5) 2. Compute the number of days' sales in receivables for Year 1 and Year 2. Use 365 days and round all calculations to one decimal place. Year 1 = 31.4 (11,454/365) Year 1 = 7.9 days (248/31.4) Year 2 = 33.3 (12,154/365) Year 2 = 7.7 days (256.5/33.3) 3. What conclusions can be drawn from these analyses regarding L Brands efficiency in collecting receivables? L brand seems to be more efficient in Year 2 in collecting receivables than year 1