Please do not give solution in image format thanku Below are amounts (in millions) from three companies' annual reports.WalCoTarMartCostGetWalCoTarMartCostGetWalCoTarMartCostGetBeginning AccountsRequired:1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.2. Which company appears most efficient in collecting cash from sales?Required 1Required 1 Required 2Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millionsrounded to 1 decimal place.)Choose NumeratorReceivable$1,7255,716539Choose NumeratorRequired 2Receivables Turnover RatioEnding AccountsChoose DenominatorAverage Collection PeriodChoose Denominator< Required 1Receivable$2,6726,244575Complete this question by entering your answers in the tabs below.CostGetTarMartWalCoRequired 2Which company appears most efficient in collecting cash from sales?Most efficient in collecting cash from sales>Receivables turnover ratiotimestimestimesAverage collection perioddaysdaysdaysNet Sales$313,42758,87859,963Required 2 >

The ratio analysis helps to analyse the financial statements on the basis of the different elements…

WalCo TarMart CostGet Beginning Accounts Receivable $1,725 5,716 539 Ending Accounts Receivable $2,672 6,244 575 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Net Sale: $313,427 58,878 59,963

WalCo TarMart CostGet Beginning Accounts Receivable $1,725 5,716 539 Ending Accounts Receivable $2,672 6,244 575 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Net Sale: $313,427 58,878 59,963

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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