Using the Starbucks financial statements provided on Blackboard, calculate and interpret the days to collect ratio. Assume 20% of all sales are credit sales.

STARBUCKS CORP
10-K
Balance Sheet
in millions of dollars
As of	10/1/2017	10/2/2016	9/27/2015	9/28/2014
ASSETS
Current assets:
Cash and cash equivalents	$2,462.3	$2,128.8	$1,530.1	$1,708.4
Short-term investments	228.6	134.4	81.3	135.4
Accounts receivable, net	870.4	768.8	719.0	631.0
Inventories	1,364.0	1,378.5	1,306.4	1,090.9
Prepaid expenses and other current assets	358.1	347.4	334.2	285.6
Total current assets	$5,283.4	$4,757.9	$3,971.0	$3,851.3
Long-term investments	542.3	1,141.7	312.5	318.4
Equity and cost investments	481.6	354.5	352.0	514.9
Property, plant and equipment, net	4,919.5	4,533.8	4,088.3	3,519.0
Deferred income taxes, net	795.4	885.4	1,180.8	1,220.7
Other long-term assets	362.8	403.3	415.9	198.9
Other intangible assets	441.4	516.3	520.4	273.5
Goodwill	1,539.2	1,719.6	1,575.4	856.2
TOTAL ASSETS	$14,365.6	$14,312.5	$12,416.3	$10,752.9
LIABILITIES AND SHAREHOLDERS EQUITY
Current liabilities:
Accounts payable	$782.5	$730.6	$684.2	$533.7
Accrued liabilities	1,934.5	1,999.1	1,755.3	1,514.4
Insurance reserves	215.2	246.0	224.8	196.1
Stored value card liability	1,288.5	1,171.2	983.8	794.5
Current portion of long-term debt	0.0	399.9	0.0	0.0
Total current liabilities	$4,220.7	$4,546.8	$3,648.1	$3,038.7
Long-term debt	3,932.6	3,185.3	2,347.5	2,048.3
Other long-term liabilities	755.3	689.7	600.9	392.2
Total liabilities	$8,908.6	$8,421.8	$6,596.5	$5,479.2
Shareholders equity:
Common stock ($0.001 par value)	1.4	1.5	1.5	0.7
Additional paid-in capital	41.1	41.1	41.1	39.4
Retained earnings	5,563.2	5,949.8	5,974.8	5,206.6
Accumulated other comprehensive income/(loss)	(155.6)	(108.4)	(199.4)	25.3
Total shareholders equity	5,450.1	5,884.0	5,818.0	5,272.0
Noncontrolling interests	6.9	6.7	1.8	1.7
Total equity	5,457.0	5,890.7	5,819.8	5,273.7
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	$14,365.6	$14,312.5	$12,416.3	$10,752.9