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```H J Heinz Company was founded in 1869 at Sharpsburg
Pennsylvania
H.J. Heinz Company was founded in 1869 at Sharpsburg, Pennsylvania, by Henry J. Heinz. The
company manufactures and markets food products throughout the world, including ketchup,
condiments and sauces, frozen food, pet food, soups, and tuna. For two recent years, H.J.
Heinz reported the following (in thousands):______________________Year 2
_____________Year 1Sales ....................... \$11,649,079 ............ \$10,706,588Accounts
receivable .......... 993,510 ............... 1,265,032Assume that the accounts receivable (in
thousands) were \$1,045,338 at the beginning of Year 1.a. Compute the accounts receivable
turnover for Year 2 and Year 1. Round to one decimal place.b. Compute the days' sales in
receivables at the end of Year 2 and Year 1. Use 365 days and round to one decimal place.c.
What conclusions can be drawn from these analyses regarding Heinz's efficiency in collecting
receivables?View Solution: H J Heinz Company was founded in 1869 at Sharpsburg
Pennsylvania