Fill in the classes to represent salaried and hourly employees. Salaried employees are paid for forty hours no matter how much they actually work. Hourly employees are paid their hourly rate up to forty hours of work, and 1.5 times their normal rate for overtime.

Employee.java

public abstract class Employee {
protected double payRate;
  
public Employee(double payRate) {
this.payRate = payRate;
}
  
   abstract public double computePay(double hours);
}

HourlyEmployee.java

public class HourlyEmployee extends Employee {
   public HourlyEmployee(double payRate) {
   }
  
   public double computePay(double hours) {
       return 0;
   }
}

SalariedEmployee.java

public class SalariedEmployee extends Employee {
   public SalariedEmployee(double payRate) {
   }
  
   public double computePay(double hours) {
       return 0;
   }
}

Case 1: You are the Receivable Manager

You are analyzing your receivable for the period and you are concerned that the average collection period is lengthening. What specific actions can you take to reduce the average collection period?

Mention at least three actions.

Case 2: You are the Operations Manager

You are analyzing your inventory turnover report for the month and are concerned that the average days inventory outstanding is lengthening. What actions can you take to reduce average days inventory outstanding?

Mention at least three actions.

Case 3: You Are the Chief Financial Manager

Assume that you are the CFO of a company that has a larg investment in plant assets and it sells its products on credit. Identify steps you can take to increase your company’s cash flow and, hence, your company’s firm value.

Mention at least 4 steps

Case 1: You are the Receivable Manager

You are analyzing your receivable for the period and you are concerned that the average collection period is lengthening. What specific actions can you take to reduce the average collection period?

Mention at least three actions.

Case 2: You are the Operations Manager

You are analyzing your inventory turnover report for the month and are concerned that the average days inventory outstanding is lengthening. What actions can you take to reduce average days inventory outstanding?

Mention at least three actions.

Case 3: You Are the Chief Financial Manager

Assume that you are the CFO of a company that has a larg investment in plant assets and it sells its products on credit. Identify steps you can take to increase your company’s cash flow and, hence, your company’s firm value.

Mention at least 4 steps

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