Real World Financials ABC Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 9/30/2017 6/30/2017 3/31/2017 Balance sheets: Accounts receivable, (01) (Q4) (Q3) $18,961 $19,850 $12,940 net Income statements: Sales revenue $24,590 $23,370 $22,200 Required: Compute the receivables turnover ratio and the average collection period for Q1 and Q4. Assume that each quarter consists of 91 days. (Round average accounts receivable answers to nearest whole dollar. Enter your answers in millions. Round "Turnover ratio" answers to 3 decimal places.) Choose Numerator: Answer is complete but not entirely correct. Receivables Turnover Ratio Choose Denominator: Receivables Turnover Ratio Net sales Average accounts Receivables turnover receivable (net) ratio Q4 S 23,370 / 16,395 = 1.425 times Q1 S 24,590 19,400 = 1.267 times 22 Q4 Choose Numerator: 91 days Average collection period Choose Denominator: Average collection = period Receivables turnover ratio |= Average collection period 91/ 1,425.000x= 0.06 days Q1 91 1,267.000x 0.07 days