The following partial income statement and balance sheet information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2016:

	Year ended 12/31/2016
Net sales		19,049
Total operating revenue		19,049
Cost of goods sold		10,628
Sales, general & administrative		2,809
Interest expense		916
Income before tax		1,167
Net income		978

	12/31/2016	12/31/2015
Cash and cash equivalents		1,475			164
Receivables, net		2,590			865
Inventories		2,155			1,219
Land, buildings and equipment at cost, net		25,320			12,102
Total assets		31,540			14,350
Accounts payable		11,906			7,834
Total current liabilities		11,906			7,834
Long-term debt		10,691			5,521
Deferred income taxes		867			923
Total liabilities		23,464			14,278
Minority interest		408			0
Retained earnings		7,668			72
Total stockholders' equity		8,076			72

10. Required information

Required:

Compute the profit margin on sales for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)

11. Required information

Required:

Compute the receivables turnover ratio for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)

12. Required information

Required:

Compute the inventory turnover ratio for 2016 of Saratoga Springs Co. (Round your answer to 1 decimal place.)

13. Required information

Required:

Compute the average collection period for 2016 of Saratoga Springs Co. (Round your intermediate and final answers to 1 decimal place. Use 365 days a year.)

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