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Edwards Industries has $320 million in sales. The company expects that its sales will increase 15% this year. Edwards' CFO uses a simple linear regression

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Edwards Industries has $320 million in sales. The company expects that its sales will increase 15% this year. Edwards' CFO uses a simple linear regression to forecast the company's receivables level for a given level of projected sales. On the basis of recent history, the estimated relationship between receivables and sales (in millions of dollars) is as follows: Receivables = $12.25 +0.07(Sales) Given the estimated sales forecast and the estimated relationship between receivables and sales, what are your forecasts of the company's year and balance for receivables? Enter your answer in millions. For example, an answer of $25,400,000 should be entered as 25.40. Do not round intermediate calculations, Round your ansvfer to two decimal places. million What are your forecasts of the company's year-end days sales outstanding (DSO) ratio? Assume 365 days in your for your calculations. Do not round intermediate calculations. Round your answer to two decimal places. days

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