Question: Comparing Two Companies in the Same Industry: Kelloggs and General Mills Refer to the financial statement information of Kelloggs and General Mills reproduced at the

Comparing Two Companies in the Same Industry: Kellogg’s and General Mills Refer to the financial statement information of Kellogg’s and General Mills reproduced at the end of this book.

Required

1. Calculate the accounts receivable turnover ratios for both companies for the most recent year.

2. Calculate the average length of time it takes each company to collect its accounts receivable.

3. Compare the two companies on the basis of your calculations in (1) and (2).

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