Make use of search engines online to find out financial statements of The Hershey Company and Tootsie Roll. Answer the given questions based on their financials of the year 2011.
(1) Compute accounts receivable turnover for both companies. (Hints: use "Net product sales", assume all sales were credit sales)
(2) Compute average collection period for accounts receivable for both companies.
(3) What conclusions concerning the management of accounts receivable can be drawn from these data?
Write a half page to one page paper, single space having 10-12 font size.
Note: Please show all of your calculations.