(Efficiency analysis)The Brenmar Sales Company had a gross profit margin (gross

profits divided by sales)

of 34percent and sales of

$ 9.2 million last year.

79 percent of the firm's sales are on credit, and the remainder are cash sales. Brenmar's current assets equal

$ 1.2million, its current liabilities equal $ 302 comma 900$302,900,

and it has $ 108, 900 in cash plus marketable securities.a. If Brenmar's accounts receivable equal $562,700,

what is its average collection period?

b. If Brenmar reduces its average collection period to

2020

days, what will be its new level of accounts receivable?

c.Brenmar's inventory turnover ratio is

8.9times. What is the level of Brenmar's inventories?