Dynamic Futon forecasts the following purchases from suppliers:Jan.Feb.Mar.Apr.M

Dynamic Futon forecasts the following purchases from suppliers:Jan.Feb.Mar.Apr.May.Jun.Value of goods ($ millions)322825222020a. Forty percent of goods are supplied cash-on-delivery. The remainder are paid with an average delay of one month. If Dynamic Futon starts the year with payables of $22 million what is the forecasted level of payables for each month?b. Suppose that from the start of the year the company stretches payables by paying 40% after one month and 20% after two months. (The remainder continue to be paid cash on delivery.) Recalculate payables for each month assuming that there are no cash penalties for late payment.