RONA inc is a leading Canadian retailer and distributor of

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RONA inc. is a leading Canadian retailer and distributor of hardware, home renovation, and
garden products, operating out of more than 680 franchised, affiliated, and corporate stores. For
two recent years, RONA reported the following (in millions):The accounts receivable (in millions)
were $251 at the beginning of the year ended December 26, 2010.1. Compute the accounts
receivable turnover for 2011 and 2010. Round to one decimal place.2. Compute the days’ sales
in receivables at the end of 2011 and 2010. Round to one decimal place.3. What conclusions
can be drawn from 1. and 2. regarding RONA’s efficiency in collecting receivables?4. For its
years ended in 2011 and 2010, Canadian Tire Corporation, Limited has an accounts receivable
turnover of 14.0 and 12.1, respectively. Compare RONA’s efficiency in collecting receivables
with that of Canadian Tire.View Solution:
RONA inc is a leading Canadian retailer and distributor of

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