Question

# Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports...

Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas.

 Nike Adidas \$18,572.4 \$10,817.4 75.0 125.0 111.0 128.0 2,843.0 1,866.0 2,971.0 1,665.0

(a1)

Correct answer iconYour answer is correct.

Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)

 Nike Adidas Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times enter the accounts receivable turnover in times rounded to 1 decimal place times

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Attempts: 2 of 6 used

(a2)

Calculate the average collection period for both companies. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)

 Nike Adidas Average collection period enter the average collection period in days rounded to 1 decimal place days enter the average collection period in days rounded to 1 decimal place days

#### Homework Answers

Answer #1

(a1)

Correct answer iconYour answer is correct.

Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)

 Nike Adidas 18572.40/2814 = 6.6 times 10817.40/1639 = 6.6 times

(a2)

Calculate the average collection period for both companies. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)

 Nike Adidas 365/6.6 = 55.3 days 55.3 days
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