PB8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] J. M. Smucker is well known for its fruit jams and Seneca Foods Corporation is the company behind Green Giant canned vegetables. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions). Fiscal Year Ended April 30: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance J. M. Smucker 2016 2015 2014 $7,800 $5,690 $5,610 451 431 311 1 1 1 450 430 310 2016 $ 1,275 78 1 77 Seneca Foods 2015 2014 $ 1,290 $ 1,340 72 79 2 2 70 77 Required: 1. Calculate the receivables turnover ratios and days to collect for Smucker and Seneca for the fiscal years ended in 2016 and 2015. (Use 365 days in a year. Round your answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.)