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Packaging Corporation of America produces containerboard and white papers. WestRock Co . manufactures paper products and corrugated products. Financial statement data for these two companies
Packaging Corporation of America produces containerboard and white papers. WestRock Co manufactures paper products and corrugated products. Financial statement data for these two companies follow:
Packaging Corporation of America
$ in millions of dollars
Sales $ $ $
Accounts receivable at December $
WestRock Co
$ in millions of dollars
Sales $ $ $
Accounts receivable at December $
Source: Computed from amounts in the Packaging Corporation of America and WestRock Co Form Ks for In and WestRock was known as WRKCo., Inc.
Required:
Determine the receivables turnover ratios for both companies for and Use days in a year. Do not round intermediate calculations. Round your answers to decimal place.
Which company collected its accounts receivable more quickly in
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