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. 2022 $ 3,610 3,200 2021 $ 4,580 4,300 (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 410 37,125 7,178 280 39,625 7,252 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 LINK TO TEXT LINK TO VIDEO Is accounts receivable a material component of the company's total current assets