Foster Wheeler entered into arrangements to sell receivables in 20X9. The company sold $84.8 million receivables in 20X9 and the amount is removed from the trade receivable balances. Selected reported financial data for the company follow: In million dollars Sales Trade accounts receivable Cash flow from operations 20X8 $4,537 766.3 (59) 2079 $3,867 716.9 (6) Required: a) Compute the company's receivable turnover ratio and the number of days receivables outstanding for 20X9 based on the REPORTED data. (Note: receivable turnover ratio=sales/average receivable; number of days receivable outstanding = 365/receivable turnover ratio.) (3 points) b) Repeat part a) assuming no sale of receivables. (3 points) c) Evaluate the impact of the sale of receivables from an analyst's perspective. (3 points) d) What adjustments need to be made if the above receivables are sold with recourse? (3 points)