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Two largest toy makers in the world problem... Please be specific with final answers in regards to the charts and where they belong. Thanks so
Two largest toy makers in the world problem...
Please be specific with final answers in regards to the charts and where they belong.
Thanks so much!
Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Mathis Hashey Fiscal Year Ended: 2012 2011 2010 2012 2011 2010 Net Sales $6,656 $6,031 $6,518 $4,702 $4,868 $4,622 Accounts Receivable 1,198 804 930 1,022 1,102 674 Allowance for Doubtful Accounts 25 28 29 36 35 Accounts Receivable, Net of Allowance 1,173 776 901 988 1,066 639 Required: 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2012 and 2011. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2012 2011 Mathis Hashey Mathis Hashey Receivables Turnover Ratio Days to Collect 2-a. Which of the companies was quicker to convert its receivables into cash in 2012? O Mathis O Hashey 2-b. Which of the companies was quicker to convert its receivables into cash in 2011Step by Step Solution
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