Assume selected financial data for Small Mart and Arrow, two close competitors in the retail industry, are as follows:

Required:

$1-$a$.$ Calculate the receivables turnover ratio and average collection period for Small Mart and Arrow.

$1-$b$.$ Which company maintains a higher receivables turnover?

Complete this question by entering your answers in the tabs below.

Req $1$a

Req $1$ b

Calculate the receivables turnover ratio and average collection period for Small Mart and Arrow. $($Enter your answers in millions. Do not round your intermediate calculations.$)$

$\backslash$table$[[$Receivables Turnover Ratio$],[,$Choose Numerator:,,Choose Denominator:,,$],[,$ on$,$I,,$=,$Receivables Turnover Ratio$],[$Small Mart,,$1,,=,$times$],[$Arrow$,,$I,,$=,$times$],[$Average Collection Period$],[,$Choose Numerator:,,Choose Denominator:,,$]]$