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The financial statements of Maple Leaf Foods Inc. reported the following for the years ended December 31, 2017, 2016, and 2015. Financial Statement Data (in
The financial statements of Maple Leaf Foods Inc. reported the following for the years ended December 31, 2017, 2016, and 2015. Financial Statement Data (in thousands of dollars) 2017 2016 $3,522,226 $3,331,812 123,968 127,749 Sales Accounts receivable 2015 $3,292,932 57,958 (a) * Your answer is incorrect. Calculate Maple Leaf's receivables turnover and collection period for 2017 and 2016. (Round receivables turnover to 2 decimal places, eg. 52.75 and collection period to 1 decimal place, eg. 52.7. Use 365 days for calculation.) 2017 2016 Receivables turnover 26.47 times 38.72 times Collection period 13.78 days 9.42 days e Textbook and Media
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