Chapter 8 Reporting and Analyzing Long-Term Opera LC 18.30. Computing and Evaluating Receivables, Inventory, and PPE Turnovers 3M Company reports the following financial statement amounts in its 10-K report: ($ millions) Sales Cost of Sales Receivables Inventories PPE, net 2014 ...... 2013..... 2012.... $31,821 30,871 29,904 $16,447 16,106 15,685 $4,238 4,253 4,061 $3,706 3,864 3,837 $8,489 8,652 8,378 a. Compute the receivables, inventory, and PPE turnover ratios for both 2014 and 2013.(Receivables turnover and inventory turnover are discussed in Chapters 6 and 7, respectively.) b. What changes are evident in the turnover rates of 3M for these years? Discuss ways in which a company such as 3M can improve its turnover within each of these three areas. Identifying and Accounting for Intangible Assets in the first day of 2016. Holthausen Company acquired the assets of Leftwich Company including tan Leftwich's primary product, a device called a 99-31. Identifying ar