Tessier-Ashpool Inc.'s CFO has decided to take a closer look the company's credit policy. Tessier-Ashpool Inc. has annual sales of $402.8 million, and it currently has an accounts receivable balance of $47.6 million. The first step in analyzing the firm's credit policy is to determine its days sales outstanding (DSO). Based on this information, what is Tessier-Ashpool Inc.'s DSO? (Use 365 days as the length of a year in all calculations.) 030.2 days O 45.3 days O 43.1 days 0 32.3 days The average DSO for Tessier-Ashpool Inc.'s industry is 53.9 days. Assuming that its sales stayed the same, what would be Tessier-Ashpool Inc.'s receivables balance if it maintained the industry average DSO? O $56,507,892 O $62,456,092 O $59,481,992 O $50,559,693 Tessier-Ashpool Inc.'s CFO thinks that the company has not done a very good job of enforcing its credit policy. The CFO believes that if the company were to better enforce its credit policy, it would reduce its DSO to 30 days; however, this will cause Tessier-Ashpool Inc. to lose 4% of its sales revenue. Determine what Tessier-Ashpool Inc.'s expected accounts receivables balance would be if it decides to tighten its credit policy. O $33,371,730 O $27,015,210 O $39,728,250 $31,782,600