Clement Co. and Salvatore Co. recently published their annual reports. As a prospective investor, you're interested in finding out about their cash holdings, and seeing how the businesses compare. Some of their financial data is provided below. Clement Co. Salvatore Co. Net accounts receivable, $9 740 $8 310 opening Credit sales 20 000 30 000 Cash sales 34 000 22 000 Allowance for doubtful debts, 2 460 0 opening Net accounts receivable, 6 580 12 780 ending Allowance for doubtful debts, 2 950 6 200 closing Required 1. Using MS Excel: A. Calculate the receivables turnover ratio for each business. B. Calculate the days-in-receivables ratio for each business. C. Calculate the allowance ratio for each business. 2. Compare the receivables position for each business based on your answers above