Problem 8-15B Accounts receivable ratios

Using the Spin Master financial statements in Appendix III, calculate the following ratios for the years ended December 31, 2017 and December 31, 2016. At December 31, 2015, Spin Master had an accounts receivable balance of $134,618,000 and net sales of $879,406,000. Comment on the change.

a. Accounts receivable turnover ratio (round to two decimal places)

b. Days sales in inventory (round to the nearest day)

APPENDIX III Financial Statement Information A-38 Spin Master Corp. Consolidated statements of financial position as at December 31, 2017 and Des 2016 (In theusands of United States dollars) Spin Master Corp. Consolidated statements of operations and cemprehensive income For the year ended December 31