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The following Information (In $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2021: Year ended 12/31/2021 Net sales
The following Information (In $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2021: Year ended 12/31/2021 Net sales $8,129 Cost of goods sold 4,947 Selling and administrative expense 2,089 Interest expense 596 Income before taxes 497 Net income 638 Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets 12/31/2021 $ 1,155 1,190 1,235 13,680 $17,260 12/31/2020 $ 82 844 699 4,024 $5,649 Total current liabilities Long-term debt Total liabilities Total stockholders' equity $ 5,927 5,771 $11,698 $ 5,562 $2,389 2,481 $4,790 $ 859 Required: Compute the receivables turnover ratlo for 2021. (Round your answer to 1 decimal place.) Receivables turnover ratio
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