(Evaluating liquidity) The Tabor Sales Company had a gross profit margin(gross profits divided by sales) of 30 percent and sales of $9.7 million last year.Seventy-five percent of thefirm's sales are on credit and the remainder are cash sales.Tabor's current assets equal $2.4 million, its current liabilities equal $284,00 and it has $101,000 in cash plus marketable securities.

a. IfTabor's accounts receivable are $ 562,500, what is its average collectionperiod? (round to two decimal places)

b. If Tabor reduces its average collection period to 19 days, what will be its new level of accountsreceivable? (round to the nearest dollar)

c. Tabor's inventory turnover ratio is 9.3 times. What is the level ofTabor's inventories? (round to the nearest dollar)