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fill in blanks 6 value: 10.00 points Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of
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6 value: 10.00 points Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions) Hashe Mathis 2011 Fiscal Year Ended: Net Sales 2010 $5,656 $5,131$5,718 2012 2012 2010 2011 $3,902 $3,768 $3,822 Accounts Receivable Allowance for Doubtful Accounts 1,158 21 764 24 890 25 982 30 634 31 1,062 32 Accounts Receivable, Net of Allowance 1,137 740 865 952 1,030 603 Required: 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2012 and 2011 TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2012 2011 Mathis Hashey Mathis Hashey Receivables Turnover Ratio Days to Collect 2-a. Which of the companies was quicker to convert its receivables into cash in 2012? Mathis Hashey 2-b. Which of the companies was quicker to convert its receivables into cash in 2011? Mathis HasheyStep by Step Solution
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