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Suppose your firm receives a $5.58 million order on the last day of the year. You fill the order with $1.78 million worth of inventory.

image text in transcribed Suppose your firm receives a $5.58 million order on the last day of the year. You fill the order with $1.78 million worth of inventory. The customer picks up the entire order the same day and pays $1.16 million up front in cash; you also issue a bill for the customer to pay the remaining balance of $4.42 million within 40 days. Suppose your firm's tax rate is 0% (i.e., ignore taxes). Determine the consequences of this transaction for each of the following: a. Revenues d. Inventory b. Earnings e. Cash c. Receivables a. Revenues Revenues will decimal places.) b. Earnings by $ million. (Select from the drop-down menu and round to two by $ million. (Select from the drop-down menu and round to two decimal places.)

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