Mattel and Hasbro are two of the largest and most successful toy makers in the world,In terms of the products they sell and their receivable management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports( amounts in millions) Fiscal year ended: 2008 2007 2006 5008 2007 2006 Net sale $59918 $5970 $5650 $4022 $3838 $3151 Accounts rec. 900 1012 963 644 686 584 Allowance 26 21 19 32 31 28 Net allowance 874 991 944 612 655 556 Required: 1)Calculate the receivable turnover ratios and days to collect for Mattel and Hasbro for 2008 and 2007. ( Round your final answers to one decimal place). In your calculations, use average accounts receivable , net of allowance 2) Which of the companies was quicker to convert its receivables into cash in 2008?2007?