FINANCE 311 PROBLEMS 2N0 TEST PART II OPEN BOOK AND NOTES PLEASE SHOW YOUR WORK DR. SWIGER NAME 1. Kantorovich Company has credit sales of $1,200,000 per year. What are sales per day? (assume a 360 day year) a. Assuming that the firm has $180,000 in receivables, what is the average collection period or days sales outstanding? b. c. If the firm reduced the Average collection period or Days Sales Outstanding to 30 days what would receivables then be? Z firm's Sales are $1,000,000 Cost of Goods Sold are $300,000 Total Assets are $500,000 Current Assets are S300,000 2. Fixed Assets are $200,000 and Current Liabilities are $200,000 Long Term debt is $100,000 Return on Equity is 20% Calculate the Following. a. Gross Profit Margin