The following data were taken from Hershey Foods Corporation's 2007 annual report. All dollar amounts are in thousands.

Required
a. Compute Hershey's accounts receivable ratios for 2007 and 2006.
b. Compute Hershey's average days to collect accounts receivables for 2007 and 2006.
c. Based on the ratios computed in Requirements a and b, did Hershey's performance get better or worse from 2006 to 2007?
d. In 2007 the average interest rate on Hershey's long-term debt was approximately 6.4 percent. Assume it took Hershey 30 days to collect its receivables. Using an interest rate of 6.4 percent, calculate how much it cost Hershey to finance its receivables for 30 days in2007.

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Fiscal Years Ending December 31, 2007 December 31, 2006 $4,944,230 Sales Accounts Receivable $4,946,716 487,285 522,673