The following information was taken from recent annual reports of Goodyear Tire & Rubber, and PPL Energy Co., a public utility:

a. Compute for each company the accounts receivable turnover rate for the year.
b. Compute for each company the average number of days required to collect outstanding receivables (round answers to nearest whole day).
c. Explain why the figures computed for Goodyear in parts a and b are so different from those computed forPPL.

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Goodyear $19.6 billion 3. 1 billion PPL $5.1 billion $376 million Net sales. Average accounts receivable