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Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales Walco $1,775 $2,722 $318,427 TarMart 5,966 6,494

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Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales Walco $1,775 $2,722 $318,427 TarMart 5,966 6,494 63,878 CostGet 589 625 64,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for Walco, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio WalCoi TarMart CostGet Receivables turnover ratio times times times Average Collection Period Walco TarMart CostGet Average collection period days days days 2. Which company appears most efficient in collecting cash from sales? Walco TarMart CostGet

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