Presented below are select financial data from the annual report:

Amounts in millions	Year 1	Year 2
Balance sheet
Accounts receivable (net)	$14,233	$14,851
Inventory	9,778	10,474
Income statement
Net sales	$84,705	$92,589
Cost of goods sold	61,759	66,814

Calculate the following ratios:

Accounts receivable turnover

Receivable collection period

Inventory turnover

Inventory-on-hand period

Evaluate General Electrics accounts receivable and inventory management