Analyze L Brands 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: 252 244 Beginning of year End of year 261 252 a. Determine the accounts receivable turnover for Year 1 and Year 2. Round all calculations to one decimal place. Year 1 Year 2 Accounts receivable turnover 7.6 x b. 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 Year 2 Number of days' sales in receivables 7.5 X days days c. With regard to accounts receivable turnover, which of the following statements is correct? 1. A decline in the accounts receivable turnover means there is a decline in the efficiency in collecting accounts receivable. 2. An increase in the accounts receivable turnover means there is a decline in the efficiency in collecting accounts receivable. 3. An increase in the accounts receivable turnover means there is a decline in the efficiency in making sales. 4. An increase in the accounts receivable turnover means there is a increase in the efficiency in making sales. 1