Question: The management of the Fancy Pants Company was particularly pleased with its financial performance over the past year. Sales had increased rapidly to $260,500,000, net operating profit had increased, and nearly all other ratios had improved. Their banker had noted, however, that the average collection period had steadily deteriorated to the point where at present it was 98 days. All the company's sales were made on credit, and their present policy was to offer terms of 2/30, net 60. Calculate the dollar volume of receivables outstanding and the receivables turnover ratio for the company. Before being able to fully assess this aspect of the company's management, what additional information do you think the firm's banker should have?