a. Steps that a firm can take to improve collection policy. Discussion should include

Please answer! (1) tradeoff between collection policy and sales and (2) the effects of slow collections on free cash flow (FCF).

b. Identify at least three profitability ratios and discuss the role of profit as a metric in measuring company performance. Why do we not seek to maximize profit when discussing the role of a firm? Since higher profits are related to higher stock prices, what can a firm do to increase profits?