a. Breezy Industries only makes sales on credit. They expect credit sales as follows: Month Credit Sales January February March $310,350 $416,850 $501,000 It is expected that 60% of the sales will be collected in the month of sale, and 40% will be collected in the following month. Compute the cash collections from customers for the month of January, February and March by filling in the table provided. (4 marks) b. Brianna has some excess money for potential investments in either one of these companies. She needs your advice. As such, you are required to calculate the profits and work out the profitability ratios by filling in the table provided and interpret these ratios accordingly: Accounts Items Wollies Ltd. Cools Ltd. Sales $120,000 $110,000 Cost of Goods Sold $47,000 $45,000 Operating Expenses $30,000 $20,000 Gross Profit ? Net Profit ? ? ? Gross Profit Margin Net Profit Margin i. Calculate the gross profit and the net profit? (2 marks) ii. Identify the company that has higher Gross Profit and the company that has higher Net Profit. If both are different companies explain why? (1 mark) iii. Calculate the profitability ratios for both companies i.e., the Gross Profit Margin and the Net Profit Margin. (2 marks) iv. Advise which company is better in terms of their Net Profit Margin. (1 marks) Show all your calculations. a. Sales Total Sales Collections Jan Feb Mar Jan % Feb % Mar % b Wollies Cools Ltd. Accounts Items Ltd.