Expand Your Critical Thinking 8-2 The financial statements of The North West Company Inc. are presented in Appendix A. The financial statements of Sobeys Inc. are presented in Appendix B. Click here to view Appendix A. Click here to view Appendix B. (a) Calculate the following for each company for its most recent fiscal year. The industry average is shown in parentheses. (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.) 1. 2. Current ratio (1.18:1) Receivables turnover (24.2 times) (Assume all sales were credit sales and use net receivables instead of gross receivables.) Average collection period (15 days) 3. North West Sobeys Current Ratio Receivables Turnover times times Average Collection Period days days Expand Your Critical Thinking 8-2 The financial statements of The North West Company Inc. are presented in Appendix A. The financial statements of Sobeys Inc. are presented in Appendix B. Click here to view Appendix A. Click here to view Appendix B. (a) Calculate the following for each company for its most recent fiscal year. The industry average is shown in parentheses. (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.) 1. 2. Current ratio (1.18:1) Receivables turnover (24.2 times) (Assume all sales were credit sales and use net receivables instead of gross receivables.) Average collection period (15 days) 3. North West Sobeys Current Ratio Receivables Turnover times times Average Collection Period days days