Assume we're at the end of "this year" planning "next year's" financial statements. Calculate

the following using indirect planning assumptions as indicated. $($To keep the calculations simple

formulate ratios using ending balance sheet figures only.$)$

a$.$ Sales are forecast to be $$58,400,000.$ Management wants to plan for a $45$ day ACP next year.

What ending receivables balance should be planned for next year?

b$.$ What ending inventory should be planned if revenue is expected to be $$457,000$ and the cost

ratio is $53\%($cost of goods sold as a $\%$ of revenue$)$ and management wants to forecast an inventory

turnover of $5x.$

c$.$ Normal credit terms from suppliers request payment within $30$ days. In an effort to conserve

cash, management has decided to pay in $50$ days. Nearly all payables come from purchases of

inventory. Materials makes up $60\%$ of the Cost of Goods Sold. Next year's revenue is forecast to be

$$378M.$ The firm's cost ratio is expected to be $56\%.$ What figure should be included in next year's

ending balance sheet for Accounts Payable?