Below are amounts $($in millions$)$ from three companies' annual reports.

$1$

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$\backslash$begin$\{$tabular$\}\{$lccc$\}$

& $\backslash$begin$\{$tabular$\}\{$c$\}$

Beginning Accounts $\backslash \backslash$

Receivable

$\backslash$end$\{$tabular$\}$ & $\backslash$begin$\{$tabular$\}\{$c$\}$

Ending Accounts $\backslash \backslash$

Receivable

$\backslash$end$\{$tabular$\}$ & Net Sales $\backslash \backslash$

WalCo & $\backslash (\backslash$$ $1,675\backslash )$ & $\backslash (\backslash$$ $2,622\backslash )$ & $\backslash (\backslash$$ $308,427\backslash )\backslash \backslash$

TarMart & $5,466$ & $5,994$ & $53,878\backslash \backslash$

CostGet & $489$ & $525$ & $54,963$

$\backslash$end$\{$tabular$\}$

Required:

$1.$ Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.

$2.$ Which company appears most efficient in collecting cash from sales?

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

Required $1$

Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.

Note: Enter your answers in millions rounded to $1$ decimal place.

$\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|$l$|$l$|\}$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Receivables Turnover Ratio$\}\backslash \backslash$

$\backslash$hline & Choose Numerator & Choose Denominator & & $\backslash \backslash$

$\backslash$hline & & & $=$ & Receivables turnover ratio $\backslash \backslash$

$\backslash$hline WalCo & & & & times $\backslash \backslash$

$\backslash$hline TarMart & & & & times $\backslash \backslash$

$\backslash$hline CostGet & & & & times $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Average Collection Period$\}\backslash \backslash$

$\backslash$hline & Choose Numerator & Choose Denominator & & $\backslash \backslash$

$\backslash$hline & & & $=$ & Average collection period $\backslash \backslash$

$\backslash$hline WalCo & & & & days $\backslash \backslash$

$\backslash$hline TarMart & & & & days $\backslash \backslash$

$\backslash$hline CostGet & & & & days $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$