L Brands: Accounts receivable turnover and number of days' sales in receivables L Brands, Inc. sells women's clothing and personal health care products through specialty retail stores including Victoria's Secret and Bath & Body Works stores. L Brands reported the following (in millions) for two recent years: a. Determine the accounts receivable turnover for Year l and Year 2. Round all calculations to one decimal place. Accounts receivable turnover b. Compute the number of days' sales m receivables for Year l and Year 2. Use 365 days and round all calculations to one decimal place. Number of days' sales in receivables days days c. With regard to accounts receivable turnover, which of the following statements is correct? 1. A decline in the accounts receivable turnover means there is a decline in the efficiency collecting accounts receivable. 2. An increase in the accounts receivable turnover means there is a decline in the efficiency in collecting accounts receivable. 3. An increase in the accounts receivable turnover means there is a decline in the efficiency in making sales. 4. An increase in the accounts receivable turnover means there is a increase in the efficiency in making sales