Part 1. The Boyd Corporation has annual credit sales of $1.6 million. Current expenses for the collection department are $40,000, bad-debt losses are 1.00% of gross sales, and the days sales outstanding is 30 days. The firm is considering easing its collection efforts such that collection expenses will be reduced to $35,000 per year. The change is expected to increase bad-debt losses to 2.00% of gross sales and to increase the days sales outstanding to 45 days. In addition, sales are expected to increase to $1,725,000 per year. The opportunity cost of funds is 15.00%, the variable cost ratio is 70.00% of sales, and the tax rate is 21.00%. What is the change in profits if the firm makes these changes? Assume a 365 day year. Discussion: Should the company make the change? Jse the data in the worksheet "Receivables DATA" to create an aging schedule in the green cells below. *Hint: The easiest method is to create a ookup table, then a pivot table, and then copy and paste the values from the pivot table into the green cells below