suppose the following information was taken from the 2022 financial statements of FedEx corporation a major global transportation/delivery company

mpany's E8.16 (LO 4), AN Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $ 3,587 $ 4,517 Accounts receivable (net) 3,391 4.359 Allowance for doubtful accounts 196 158 Sales revenue 35,497 37,953 Total current assets 7,116 7,244 Instructions Answer each of the following questions. a. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx, b. Is accounts receivable a material component of the company's total current assets? c. Evaluate the balance in FedEx's allowance for doubtful accounts