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Problem 8-15B Accounts receivable ratios LO5 Using the Spin Master financial statements in Appendix III, calculate...

Problem 8-15B Accounts receivable ratios LO5 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)

(On Problem 8-15B assignment, there is a typo error on item 2. The requirement should be for number of days in receivable (not inventory)

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