ABC's balance sheet and income statements for the years ending December 31, 20Y1 and 20Y2: (in thousand) 20Y1 20Y2 Accounts receivable $ 770 $ 785 Inventory 902 1,075 Accounts payable $ 528 $ 473 Accrued expenses 143 136 Sales $ 5,801 $ 6,504 Cost of goods sold 4,258 4,814 What approximate effect did the change in the payment period during 20Y2 have on ABC's financing needs? a. Financing requirements decreased by a range of $120,000 to $130,000. b. Financing requirements increased by by a range of $120,000 to $130,000. c. Financing requirements decreased by a range of $75,000 to $80,000. d. Financing requirements increased by a range of $165,000 to $170,000.