E6-25 (Algo) Computing and Interpreting the Receivables Turnover Ratio L06-3 A recent annual report for Libby, Inc. contained the following data: Mccounts receivable Lessi Allowances Net accounts receivable Net sales (assume all on credit) dollars in thousands) Current Year Previous Year $ 4,853,000 56,064,000 109,000 110.000 $ 4.744.000 $5,946,000 $62,301.000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year (Use 365 days a year. Do not round Intermediate calculations. Enter your answers in thousands not in dollars) Receivables Turnover Ratio Denominator Average Days Sales in Receivables