Thank you in advance for your help; could you please provide an excel spreadsheet solution too, the spreadsheet helps in my understanding and retention of the information?

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16. Relaxation of credit standards Lewis Enterprises is considering relaxing its credit standards to increase its currently sagging sales. As a result of the proposed relaxation, sales are expected to increase by 5% from 14,000 to 14,700 units during the coming year; the average collection period is expected to increase from 35 to 50 days; and bad debts are expected to increase from 1% to 2.5% of sales. The sale price per unit is $42, and the variable cost per unit is $34. The firm's required return on equal-risk investments is 10.6%. Evaluate the proposed relaxation, and make a recommendation to the firm. (Note: Assume a 365-day year.) The additional profit contribution from an increase in sales is $ (Round to the nearest dollar.) The cost from the increased marginal investment in A/R is $ (Round to the nearest dollar.) The cost from the increase in bad debts is $ (Round to the nearest dollar.) The net profit or loss from implementing the proposed plan is $ (Round to the nearest dollar. Enter a negative number for a loss.) Is the proposed plan recommended? (1) (Select from the drop-down menu.) (1) O Yes No