Coca-Cola and PepsiCo are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information assumed to have been reported in their 2017, 2016, and 2015 annual reports (amounts in millions). Coca-Cola PepsiCo Fiscal Year Ended: 2017 2016 2015 2017 2016 2015 Net Sales $32,484 $29,057 $24,788 $43,751 $42,274 $35,837 Accounts Receivable 3,111 3,388 2,720 3,854 3,740 3,217 Allowance for Doubtful 62 63 70 77 Accounts 76 71 Accounts Receivable, Net 3,049 3,325 2,650 of Allowance 3,777 3,664 3,146 Required: 1. Calculate the receivables turnover ratios and days to collect for Coca-Cola and PepsiCo for 2017 and 2016. (Consider a 365 days a year. Round your intermediate answers and final answers to 1 decimal place.) 2017 Receivables turnover ratio Days to collect Coca-Cola times days PepsiCo times days 2016 Receivables turnover ratio Days to collect Coca-Cola Umes days PepsiCo times days 2. Which of the companies is quicker to convert its receivables into cash? Coca-Cola Pepsico