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Edwards Industries has $360 million in sales. The company expects that its sales will increase 17% this year. Edwards' CFO uses a simple linear regression

Edwards Industries has $360 million in sales. The company expects that its sales will increase 17% 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 = $7.25 + 0.13(Sales)

Given the estimated sales forecast and the estimated relationship between receivables and sales, what are your forecasts of the company's year-end 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 answer to two decimal places. $ million

What are your forecasts of the company's year-end days sales outstanding (DSO) ratio? Assume 365 days in year for your calculations. Do not round intermediate calculations. Round your answer to two decimal places. days


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