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The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway Company : 2017 2016 2015 Accounts receivable, gross
The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway Company:
2017 | 2016 | 2015 | ||||||||||
Accounts receivable, gross | $1,000 | $903 | $885 | |||||||||
Allowance for doubtful accounts | 16 | 28 | 7 | |||||||||
Accounts receivable, net | 984 | 875 | 831 | |||||||||
Revenues | 13,041 | 12,037 | 12,611 | |||||||||
Total current assets | 2,190 | 2,107 | 2,153 | |||||||||
Total current liabilities | 3,983 | 3,008 | 2,998 |
Calculate the 2017 and 2016 current ratios
Calculate the receivables turnover and average collection period for 2017 and 2016.
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