Obj. 8 MAD 8-2 Analyze Ralph Laurern Ralph Lauren Corporation (RL) designs, markets, and distributes a variety of apparel, home dcor, accessory, and fragrance products. The company's products include such brands as Ralph Lauren, Polo by Ralph Lauren, and Chaps. For two recent years, the company reported the following (in millions): EAL WOLD Year 2Year 1 $7,230 $7 451 Accounts receivable (end of year)517655 Sales The accounts receivable at the beginning of Year 1 was $588 million. a. Compute the accounts receivable turnover for Year 1 and Year 2. Round to one decimal place. b. Compute the number of days' sales in receivables for Year 1 and Year 2. Use 365 days and round all calculations to one decimal place. cWhat conclusions can be drawn from these analyses regarding Ralph Lauren's efficiency in collecting receivables