ANSWER 1 AND 2

Shiplt Corporation reported the following rounded amounts (in millions): 2015 $ 4,980 (230) $ 4,750 2016 Accounts Receivable 5,275 (225) Allowance for Doubtful Accounts 5,050 Accounts Receivable, Net of Allowance $46,500 $45,200 Net Sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and days to collect for 2016. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) times Receivables Turnover Ratio days Days to Collect 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2015 when the turnover was 10.9? Improvement Decline