Assume selected financial data for Sun Health Group and Select Medical Corporation, two companies in the health-care industry, are as follows: ($ in millions) Net Sales Beginning Accounts Receivable Ending Accounts Receivable Sun Health $ 2,430 $ 240 $ 227 Select Medical 2,740 439 378 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Sun Health and Select Medical. (Round Average accounts receivable to 1 decimal place. Enter your answers in millions.) Receivables Turnover Ratio / = Receivables Turnover Ratio Sun Health / = times Select Medical / = times Average Collection Period / = Average Collection Period Sun Health / = days Select Medical / = days
Assume selected financial data for Sun Health Group and Select Medical Corporation, two companies in the health-care industry, are as follows: ($ in millions) Net Sales Beginning Accounts Receivable Ending Accounts Receivable Sun Health $ 2,430 $ 240 $ 227 Select Medical 2,740 439 378 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Sun Health and Select Medical. (Round Average accounts receivable to 1 decimal place. Enter your answers in millions.) Receivables Turnover Ratio / = Receivables Turnover Ratio Sun Health / = times Select Medical / = times Average Collection Period / = Average Collection Period Sun Health / = days Select Medical / = days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume selected financial data for Sun Health Group and Select Medical Corporation, two companies in the health-care industry, are as follows:
| ($ in millions) | Net Sales |
Beginning |
Ending Accounts Receivable | ||||||
| Sun Health | $ | 2,430 | $ | 240 | $ | 227 | |||
| Select Medical | 2,740 | 439 | 378 | ||||||
Required:
1-a. Calculate the receivables turnover ratio and average collection period for Sun Health and Select Medical. (Round Average accounts receivable to 1 decimal place. Enter your answers in millions.)
|
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