Holmen (formerly MoDo) is a Swedish paper and cardboard manufacturer. In the notes to their 2010 and 2011 consolidated financial statements (source: Annual reports 2010 and 2011), the company disclosed the following data with regard to operating receivables (in millions of SEK):

In the income statement, the net turnover (net sales) amounts to:

Required
1 Explain why the €˜trade receivables (group companies)€™ do not appear in the €˜group€™ financial statements.
2 Compute the average days of sales (in receivables) for the period 2011€“2009.
3 Comment on these figures.

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Note 15 Operating receivables Grou 2010 Parent 2011 2009 2011 2010 Trade recevables 116 114 Group companies Associates 2,475 2,518 2,010 2,157 1,700 1,836 2,335 2,666 2,712 1,828 1,988 Total trade receivables Current receivables Group companies 0 9 Associates 25 14 188 113 192 160 241 133 Derivatives Prepayments and accrued income Total other operating receivables Total operating receivables 742 124 1,088 3,606 221 490 1,184 3,020 3,060 2,370 20112010 2009 Net sales 18,656 17,581 18,071