Problem 4 Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. 2021 (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 2022 $ 3.587 3.391 196 35.497 7.116 $ 4.517 4.359 158 37.953 7:244 Required: Answer each of the following questions (please show your work). a. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx Accounts receivable Turnover: Average collection period: b. is accounts receivable a material component of the company's total current assets? Answer: Evaluate the balance in FedEx's allowance for doubtful accounts, Evaluations