Smiley Jams is well known for its fruit jams and Sir Tomato is the company behind Big Green 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 2016 $9,700 641 Smiley Jams 2015 2014 $ 7,590 $ 7,510 621 501 1 620 500 2016 $ 3,180 249 Sir Tomato 2015 2014 $ 3,950 $20, 340 262 270 640 248 260 268 Required: 1. Calculate the receivables turnover ratios and days to collect for Smiley Jams and Sir 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.) 2015 2016 Smiley Jams Sir Tomato Smiley Jams Sir Tomato Receivables Turnover Ratio Days to Collect 2. Which of the companies is quicker to convert its receivables into cash in 2016? 2. Which of the companies is quicker to convert its receivables into cash in 2016? OSmiley Jams Sir Tomato