The following information was taken from the 2010 financial statements of Honey Factory Ltd: (in millions) 2010 2009 2008 Accounts receivable $ 146.6 $ 104.3 $ 126.0 Allowance for doubtful debts 6.3 5.7 8.2 Sales 1 113.0 899.3 756.9 Total current assets 367.2 285.8 258.7 Required: Answer each of the following questions. (a) Calculate the receivables turnover and average collection period for 2010 and 2009 for the entity, assuming all sales are on credit. (b) Calculate the credit risk ratio for the entity for 2010 and 2009. (c) Comment on the entity's credit and collection policies.