core: 0 of 4 pts 4 10 of 12 (9 complete) HW Score: 62 4%, 31.2 of 50 4-29 (similar to) Question Help Efficiency analysis) The Brenmar Sales Company had a gross profit margin (gross profits - sales) of 31 percent and sales of $9.4 million last year. 71 percent of the firm's sales are on credit and the remainder are cash sales Brenmar's current assets equal $1.2 million, its current liabiliies equal $298200, and it has $100,300 in eash plus a. W Brenmars accounts receivable equal $563.200, what is its average collection period? b. W Brenmar reduces its average collection period to 20 days, what will be its new level of accounts receivable? c. Brenmar's inventory turnover ratio is 9.8 times. What is the level of Brenmars inventories? a. W Brenmar's accounts receivable equal $563.200, what is its average collection period? The companys average collection period wll be 30.80 days (Round to two decimal places) b. f Brenmar reduces its average collection period to 20 days, what will be its new level of accounts receivabile? The new level of accounts receivable will be Round to the nearest dollar)