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The following data were taken from The Candy Corporation's 2018 annual report. All dollar amounts are in millions. Fiscal Years Ending December 31, 2018 December
The following data were taken from The Candy Corporation's 2018 annual report. All dollar amounts are in millions. Fiscal Years Ending December 31, 2018 December 31, 2017 Sales $8,800 $8,500 Accounts receivable 648 642 Required Compute Candys accounts receivable turnover ratios for 2018 and 2017. (Round your answers to 1 decimal place.) Compute Candys average days to collect accounts receivables for 2018 and 2017. (Do not round intermediate calculations. Round your answers to the nearest whole number.) Based on the ratios computed in Requirements a and b, did Candys performance get better or worse from 2017 to 2018? Assume it took Candy 30 days to collect its receivables. Using an interest rate of 2.0 percent, calculate how much
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