wo companies company A and B are identical in their products and sales. For the next 10 ears sales revenue of A and B will be $100 million per year. The operating expense for both ompanies is $50 million per year. Operating expenses are all paid right away in cash. ompany A is better at collecting payment for its sales and collects all the sales at the end of ach year. Company B only collects 60% of its sales in the current year. The remaining alance is collected at the end of the following two years. Also operating expenses on sales evenue no longer exist after 10 years. Ignore other costs and taxes. Both companies face a iscount rate of 10% per year. a) Draw a timeline (or a table) of the net cash flow of company A and its accounting net income each year for the next 10 years. b) What is the valuation of company A ? c) Draw a timeline (or a table) of the net cash flow of company B and its accounting net income each year for the next 12 years. d) "Because the net income of A and B is the same, the valuation of A and B is the same." Evaluate this statement with supporting calculations