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ST1. The White Oak Company ’ s annual sales are $219 million. An average of 9 days elapses… 1 answer below » ST1. The White Oak Company’s annual sales are $219 million. An average of 9 days elapses between when a customer mails its payment and when the funds become usable by the firm. a. If the company could speed up the collection of funds by 2 days, what would be the increase in the firm’s average cash balance? b. Assuming that these additional funds can be invested in marketable securities that yield 7 percent per year, determine the increase in White Oak’s annual (pretax) earnings. Jan 07 2016 10:51 AM
