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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 $8,149 Cost of goods sold 4,967 Selling and administrative expense 2,109 Interest expense 616 Income before taxes 457 Net income 658 Skipped Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets 12/31/2021 $ 1,175 1,210 1,255 13,700 $17,340 12/31/2020 $ 84 864 719 4,044 $5,711 Total current liabilities Long-term debt Total liabilities Total stockholders' equity $ 5,947 5,791 $11,738 $ 5,602 $2,499 2,421 $4,830 $ 881 Required: Compute the receivables turnover ratio for 2021. (Round your answer to 1 decimal place.) Receivables tumover ratio
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