Bayer Group, the German chemical and pharmaceutical company, is the third largest pharmaceutical company in the world. It had the following results in 2009–2011 (in millions of euros):

Compute the accounts receivable turnover and the average collection period for 2010 and 2011.
Did Bayer’s ratios improve or decline in 2011 compared with 2010? Assume all sales are on credit.

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2009 2010 2011 31,168 35,088 836,528 6,106 6,668 7,061 Sales Ending accounts receivable