The following are summary financial data for Parker Enterprises, Inc., and Boulder, Inc., for three recent years:

1. Using the above data, compute the accounts receivable turnover (rounded to the nearest hundredth) and average collection period (rounded to the nearest tenth) for each company for years 2 and 3.
2. Which company appears to be managing its accounts receivable moreefficiently?

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Year 3 Year 1 Year 2 Net sales (in millions): Parker Enterprises, Inc. Boulder, Inc.. Net accounts receivable (in millions): Parker Enterprises, Inc.. Boulder, Inc.. $15,000 S16,000 $17,000 3,000 8,500 3,750 9,000 3,800 10,000