The financial statements of Maple Leaf Foods Inc. report net sales of $4,968.2 million for the year

Question:

The financial statements of Maple Leaf Foods Inc. report net sales of $4,968.2 million for the year ended December 31, 2010. Accounts receivable were $189.2 million at the beginning of the year, and $84.1 million at the end of the year. Calculate Maple Leaf 's receivables turnover and average collection period.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...