Selected financial statement numbers for Frederick Company are given below.
Net sales ................. $277,480
Cost of goods sold ............. 179,000
Average accounts receivable ......... 20,730
Average inventory ............. 4,145
Average property, plant, and equipment ... 75,705
Average total assets ............ 126,127

Required:
1. Using this information, calculate Frederick’s receivable turnover ratio (round to two decimal places).
2. Using this information, calculate Frederick’s asset turnover ratio and also convert the ratio into days.