Exercise 8-12 The following information in U.S. $ millions) was taken from the December 31 financial statements of Potash Corporation of Saskatchewan Inc.: 2013 2015 $475 $507 2014 $715 7 708 7 7 500 468 Trade accounts receivable, gross Allowance for doubtful accounts Trade accounts receivable, net Revenues Total current assets Total current liabilities 7,305 6,279 1,553 1,747 7,115 1,938 2,189 2,113 2,198 (a) For 2015 and 2014, calculate Potash's current ratio, receivables turnover, and average collection period. (Round current ratio and receivables turnover to 1 decimal place, e.g. 5.2. Round average collection period to nearest whole day, e.g. 15.) 2015 2014 :1 :1 Current ratio times times Receivables turnover days days Average collection period