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Problem 5-9A Calculate and analyze ratios (LO5-8) Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows:
Problem 5-9A Calculate and analyze ratios (LO5-8) Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: ($ in millions) Walmart Target Net Sales $ 443,854 68,466 Beginning Accounts Receivable $5,089 6,153 Ending Accounts Receivable $5,937 5,927 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions and round your answers to 1 decimal place.) Receivables Turnover Ratio Receivables Turnover Ratio Walmart $ = 0 times 443,854/ 68,466 / Target $ 0 times Average Collection Period Walmart 1 = Average Collection Period 0 days 0 days Target 1 1-b. Which company maintains a higher receivables turnover?
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