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Comparative figures for Research In Motion and Apple follow.
Research In Motion
Apple
($ millions)
CurrentYear
OneYearPrior
TwoYearsPrior
Accounts
receivable, net
$2,594
$2,112
$1,175
$3,361
$2,422
$1,637
Net sales
14,953
11,065
6,009
42,905
37,491
24,578
Required
1. Compute the accounts receivable turnover for Research In Motion and Apple for each of the two most recent years using the data shown.
2. Using results from part 1, compute how many days it takes each company, on average, to collect receivables. Compare the collection periods for RIM and Apple, and suggest at least one explanation for the difference.
3. Which company is more efficient in collecting its accounts receivable? Explain.
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Assets of the partnership were overvalued instantly prior to MaryAnn's investment.
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