Question: I couldnt solve this question, can you help me answer it, please? Thank you Mathis and Hashey are two of the largest and most successful
Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions) Mathis 2011 Hashey Fiscal Year Ended: Net Sales 2012 2010 2012 2010 $6,956 $6,531 $6,918 $5,202 $5,168 $5,022 Accounts Receivable Allowance for Doubtful Accounts 950 31 1,042 1,122 38 694 37 27 30 36 Accounts Receivable, Net of Allowance 1,191 794 919 1,006 1,084 657 Required 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashoy for 2012 and 2011 TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2012 2011 Mathis Hashey Mathis Hashey Receivables Turnover Ratio Days to Collect
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