please help me solve this question. i attached an example of how i want the work shown at the end. PLEASE NO WORD DOCUMENT OR EXCEL SPREADSHEET. I WILL DOWNVOTE YOU if you do not listen. it wastes my opportunity to learn how to answer the question. i want it to be WRITTEN WITH PAPER AND PENCIL on a paper so that i can understand the work. PLEASE SOLVE IT BY HAND.

The industry inventory tumover ratio is 15. Collins plans to reduce the inventory level to equal the industry average. How much cash can the company free up from reducing inventories? Assume that the sales level & cost of goods sold will remain constant. (7.5 points) Balance Sheet: Cash AR Inventories Total current assets Net fixed assets Total assets $ 20 1,000 2.000 $ 3.020 2980 $ 6.000 Income Statement Sales Cost of goods sold EBIT Interest (10%) EBT Taxes (40%) Net Income $10,000 9.000 $ 1,000 600 $ 400 160 240 Example of how to show your work: FCF2014 - NOPAT2014 -(TNOC2014 - TNOC2013) NOPAT2014-EBIT2014 * (1-t) - 60,884*(1-4) - $36,530.40 NOW2014=OPCA2014-OPCL2014-(Cash+AR+Inv)2014-(AP+Accruals)2014 =191,450+103,365+38,444) - (30.761+30,477) = $172,021 Therefore, TNOC2014-NOW2014+NFA2014-172,021+67,105 - $239,186