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Problem B The following data were taken from the financial statements of ABC Corporation. 20x2 1,745,000 Accounts receivable (net), end of year Accounts receivable (net), beginning of year Net sales on account 7,800,000 1,000,000 Beginning merchandise inventory Purchases 4,750,000 Ending merchandise inventory 1,100,000 Term for all sales is 1/10, n/45. Use 360-day year. Requirements: Compute for the following: 1. Receivable turnover ratio 2. Average collection period 3. Inventory turnover ratio 4. Number of days in inventory 20x1 1,720,000 650,000 7,000,000 850,000 4,600,000 1,000,000