The table below contains selected financial information included in the 2013 financial statements of Del Monte Foods Co. and Smithfield Foods Inc.

Required:
1. Calculate the 2013 receivables turnover ratio and average collection period for both companies. Evaluate the management of each company's investment in receivables.
2. Obtain annual reports from three corporations in the same primary industry and compare the management of each company's investment in receivables.

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(S in millions) Del Monte Smithfield 2013 2012 2013 2012 Balance sheets: Accounts receivable, net S191.7 S 195.3 $ 6632 624.7 Income statements: Net sales 3,819.4 3,676.2 13,221.1 13,094.3