(16-1) Cash Management Williams & Sons last year reported sales of $10 million and an inventory turnover ratio of 2. The company is now adopting a new inventory system. If the new system is able to reduce the firms inventory level and increase the firms inventory turnover ratio to 5 while maintaining the same level of sales, how much cash will be freed up? (16-2) Receivables Investment Medwig Corporation has a DSO of 17 days. The company averages $3,500 in credit sales each day. What is the companys average accounts receivable? (16-3) Cost of Trade Credit What is the nominal and effective cost of trade credit under the credit terms of 3/15, net 30