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 2018 $ 35,010 Accounts Receivable, Net of Allowance 4,090 540 3,550 Hayes Companies 2017 $ 38,780 4,350 530 3,820 2016 $ 44,000 4,530 520 4,010 2018 $ 69,936 7,600 100 7,500 Required: Softee Sodas 2017 $ 70,660 7,510 130 7,380 1. 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? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B 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.) naniahlan Turan Datin 2018 2017 Hayes Companies Softee Sodas Hayes Companies Softee Sodas Prev 8 of 8 Next 2016 $ 66,000 7,180 140 7,040