Required:

Calculate Net Sales and Net Accounts Receivable and evaluate ratios relating to Accounts Receivable $-$ Use the data you have arrived at in the previous parts to complete this activity.

$\backslash$table$[[,$Calculate Net Sales,Calculate Net Accounts Receivable$],[1,,$Enter your input,$7,\backslash$table$[[$Enter your$],[$input$]],,$Enter your input,$-,\backslash$table$[[$Enter your$],[$input$]]],[2,$Less,it$,16,,$Less,,$12,],[3,$Equals,Enter your input,$($y$),\backslash$table$[[$Enter your$],[$input$]],$Equals,Enter your input,$7,\backslash$table$[[$Enteryour$],[$input$]]]]$

$1.$Next, calculate Accounts Receivable Turnover and Average Collection Period. Use the gross amount for Accounts Receivable to calculate the average and assume that prior year's Gross Accounts Receivable was zero. Use the amount for Net Sales in your numerator. Round ratio answers to two decimal places.