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The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway Company (CN): 2018 2017 2016 Accounts receivable, gross
The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway Company (CN): 2018 2017 2016 Accounts receivable, gross $1,195 $1,000 $903 Allowance for doubtful accounts 26 16 28 Accounts receivable, net 1,169 984 875 Revenues 14.321 13.041 12,037 Total current assets 2.728 2,190 2,107 Total current liabilities 3,500 3.983 3.008 (a) For 2018 and 2017 calculate CN's current ratio, receivables turnover, and average collection period. (Round answers to 1 decimal place, e.g. 5.2.) 2018 2017 :1 :1 Current ratio times times Receivables turnover days days Average collection period C 1000
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