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Information from three companies financial statements is shown below (amounts in millions). Hamilton Derby Warner Beginning Accounts Receivable $1,645 5,316 459 Ending Accounts Receivable $2,592
Information from three companies financial statements is shown below (amounts in millions). Hamilton Derby Warner Beginning Accounts Receivable $1,645 5,316 459 Ending Accounts Receivable $2,592 5,844 495 Net Sales $305,427 50,878 51,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for Hamilton, Derby, and Warner. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio Receivables tumover ratio Hamilton times Derby Warner times times Average Collection Period Hamilton Average collection period days Derby Warner days days 2. Which company appears most efficient in collecting cash from sales? O Hamilton O Derby O Warner
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