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VI. Receivable turnover of Goodluck Company is 10X and its accounts receivable amount to P210,000 Inventory is maintained at a level equal to 24 days' sales. Selling price and Variable cost per unit Is P140 and P90, respectively. The gross profit of the company is 40%. A proposal has been made to change the term of sales to 1/60 to effect an increase in sales volume by one third or 5,000 units. Fixed operating expenses amounted to P460,000 and the applicable income tax rate is 30% Under the proposal, bad debts losses are estimated at 3% of the incremental sales but inventory turnover shall remain the same. (Use 360 days for your computation) Required: a. The incremental net income expected from the proposal 11% b. The additional working capital investment in receivables and inventory VI. Receivable turnover of Goodluck Company is 10X and its accounts receivable amount to P210,000 Inventory is maintained at a level equal to 24 days' sales. Selling price and Variable cost per unit is P140 and P90, respectively. The gross profit of the company is 40%. A proposal has been made to change the term of sales to n/60 to effect an increase in sales volume by one third or 5,000 units. Fixed operating expenses amounted to P460,000 and the applicable income tax rate is 30% Under the proposal, bad debts losses are estimated at 3% of the incremental sales but inventory turnover shall remain the same. (Use 360 days for your computation.) Required: a. The incremental net income expected from the proposal 11% b. The additional working capital investment in receivables and inventory