Analysis on Accounts Receivable The asset side of the 2016 balance sheet for Leggett & Platt (a furniture manufacturer) follows. The company reported sales of $3,749.9 million in 2016 and $3,917.2 million in 2015. Use this information to answer the requirements: LEGGETT & PLATT, INCORPORATED Consolidated Balance Sheets (excerpts) (in millions) Dec. 31, 2016 Dec. 31, 2015 Current Assets Cash and cash equivalents $281.9 $253.2 Accounts receivables, net of allowance $7.2 and 59.3, at December 31,- 486.6 2016 and 2015, respectively 520.2 Inventories Finished goods 255.7 242.8 Work in process 52.6 426 Raw materials and supplies 245.1 241.8 LIFO reserve (33.8) (22.6) Total inventories, net 519.6 504.6 Prepaid expenses and other current assets 36.8 33.2 Total current assets 1,324.9 1,311.2 Property, plant and equipment-at cost Machinery and equipment 1,133.8 1,099.1 Buildings and other 559.4 548.2 Land 37.7 40.0 Total property, plant and equipment 1,730.9 1,687.3 Less accumulated depreciation (1,165.4) (1,146.5) Net property, plant and equipment 565.5 540.8 Other Assets Goodwill 7913 806.1 Other intangibles, less accumulated amortization of $137.0 and $139.8 December 31, 2016 and 2015, respectively 1649 188.4 Sundry 137.5 1172 Total other assets 1,093.7 1,1117 Total assets Required: $2.984.1 $2.963.7 Compute the accounts receivable turnover for 2016 and 2015. On December 31, 2014, accounts receivables, net were $523.3 million. What does this ratio mean? Is this year-over-year change good news? Round cach computation to two decimal places Compute the days sales outstanding (DSO) for each year. What does this ratio mean? Is this year over-year change good news? Round each computation to two decimal places How could Leggen & Platt improve its accounts receivable turnover