Exercise 8-16 a-b Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company (in millions) 2022 2021 Accounts receivable (gross) $ 3,710 $ 4,660 Accounts receivable (net) 3,300 4,350 Allowance for doubtful accounts 410 310 Sales revenue 35,190 37,690 Total current assets 7,160 7,260 Answer each of the following questions. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx (round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover times The average collection period for 2022 days Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Roun 365 days for calculation.) Accounts receivable turnover times The average collection period for 2022 days Is accounts receivable a material component of the company's total current assets? Click if you would like to Show Work for this question: Open Show Work