McEwan Industries sells on terms of 3/10, net 30. Total sales for the year are $1,223,000; 40% of the customers pay on the 100 oy and take discounts, while the other 60% pay, on average, 4 days after their purchases. Assume 365 days in year for your colors. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions to X Open spreadsheet a. What is the days sales outstanding? Round your answer to two decimal places. days b. What is the average amount of receivables? Round your answer to the nearest cent. Do not round intermediate chiculations S c. What is the percentage cost of trade credit to customers who take the discount? Round your answers to two decimal places % d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 84 days? Round your answers to two decimal places. Do not round intermediate calculations, Nominal cost: % b. What is the average amount of receivables? Round your answer to the nearest cent. Do not round intermediate calculations. c. What is the percentage cost of trade credit to customers who take the discount? Round your answers to two decimal places d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 84 days? Round your answers to two decimal places. Do not round intermediate calculations. Nominal cost: . Effective cost: % e. What would happen to McEwan's accounts receivable if it toughened up on its collection policy with the result that all nondiscount customers paid on the 30th day? Round your answers to two decimal places. Do not round intermediate calculations. DSO = days Average receivables = $ CD F H Credit Terms Discount Discount period (in days) Amunt de (in days) 3.009 10 30 Total sales Number of days in year $1,223,000.00 365 10 OON 36 of customers that take discount and pay on discount day of customers that pay after discount period Avem days after purchase by odcount customers 0 ON 34 + Calculation af Days Sales Outstanding (OSO Days sales autstanding (050) Formulas NA Calculation of Average Amount of Receivables Average receivables ANA Cast of Trade Credit Cost to discount customers Nominal cost to nondiscount customers paving late on Day Efircle us onondiscount contain late on Dav e Sheet1 84 64 NA WNA