ATC 7-4 (Algo) Business Applications Case: Performing ratio analysis using real-world data LO 7-7 The following data were taken from The Candy Corporation's 2018 annual report. All dollar amounts are in millions. Sales Accounts receivable Required Fiscal Years Ending December 31, 2018 $8,250 December 31, 2017 $7,950 606 600 a. Compute Candy's accounts receivable turnover ratios for 2018 and 2017. (Round your answers to 1 decimal place.) b. Compute Candy's average days to collect accounts receivables for 2018 and 2017. (Do not round intermediate calculations. Round your answers to the nearest whole number.) c. Based on the ratios computed in Requirements a and b, did Candy's performance get better or worse from 2017 to 2018? d. Assume it took Candy 30 days to collect its receivables. Using an interest rate of 4.0 percent, calculate how much it cost Candy's to finance its receivables for 30 days in 2018. (Do not round intermediate calculations. Enter your answers in millions of dollars. Round your answer to 1 decimal place.) Accounts receivabin turnover. b. Average days to collect receivables Did Candy's performance get better or worse from 2017 to 20187 d Cost 2018 2017 times times days days millions