Hayes Companies and Softee Sodas are two of the largest and most successful beverage companies in the world in terms of the

products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the

following rounded amounts reported in their annual reports $($amounts in millions$).$

Fiscal Year Ended:

Net Sales

Accounts Receivable

Allowance for Doubtful Accounts

Accounts Receivable, Net of Allowance

Required:

Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas for $2018$ and $2017.$

$2-$a$.$ Which of the companies was quicker to convert its receivables into cash in $2018?$

$2-$b$.$ Which of the companies was quicker to convert its receivables into cash in $2017?$

$$ Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas for $2018$ and $2017.($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.$)$