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es: Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Ending Accounts Receivable Receivable Net Sales WalCo TarMart CostGet $1,765 5,916 $2,712
es: Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Ending Accounts Receivable Receivable Net Sales WalCo TarMart CostGet $1,765 5,916 $2,712 6,444 $317,427 579 615 62,878 63,963 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 Net sales Average accounts receivable Receivables turnover ratio WalCo $ 317,427 $ 2,238.5 141.8 times TarMart $ 62,878 $ 6,180.0 10.2 times CostGet $ 63,963 $ 597.0 107.1 times WalCo TarMart CostGet 365 365 365 365 Average Collection Period Receivables turnover ratio Average collection period 141.8 2.6 days 10.2 35.8 days 107.1 3.4 days 2. Which company appears most efficient in collecting cash from sales? WalCo O TarMart O CostGet
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