Ziff Corp.'s CFO has decided to take a closer look at the company's credit policy. Ziff Corp. has annual sales of $384.4 million, and it currently has an accounts receivable balance of $45.9 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 Ziff Corp.'s DSO? (Use 365 days as the length of a year in all calculations.) 32.7 days 48.0 days 43.6 days 30.5 days The average DSO for Ziff Corp.'s industry is 51.2 days. Assuming that its sales stayed the same, what would be Ziff Corp.'s receivables balance if it maintained the industry average DSO? $53,921,331 $48,529,198 $62,009,531 $45,833,131 Ziff Corp.'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 Ziff Corp. to lose 6% of its sales revenue. Determine what Ziff Corp.'s expected accounts receivables balance would be if it decides to tighten its credit policy. $34,153,689 $35,638,632 $37,123,575 $29,698,860