E8-16 (Static) Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] FedEx Corporation reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 8.1? Required 1 Required 2 2019 $9,415 (300) $9,115 $69,690 Complete this question by entering your answers in the tabs below. Receivables Turnover Ratio Days to Collect 2018 $8,880 (400) $8,480 $65,450 7.4 49.3 Answer is complete but not entirely correct. Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) times days D12

E8-16 (Static) Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] FedEx Corporation reported the following rounded amounts (in millions): Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018 , when the turnover was 81 ? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year, Do not round intermediate calculations. Round your final answers to 1 decimal place.)