P4-29 (similar to) (Efficiency analysis) The Brenmar Sales Company had a gross profit margin gross profissales of 35 percent and sales of 1 milion last year. 77 part Brenmar's current assets equal $1.1 million, its current liabile al 200.000, and has $104,000 in cash plus marketable securities Question Help credit and the remaindere cash sale of the few's als o a. Brenmar's accounts receivable equal $562,000, what is its average collection period? Branmar reduces its average collecion periodo 25 days, what will be the level of accounts receivable? . Brenmar's inventory turnover ratio is 0.1 mes. What is the level of remar's inventories? a. Brenmar's accounts receivable equal $ 2.00, what is the average collection period? The company's average collection period will be days. (Round to two decimal place) Homework: 4-2 MyFinanceLab Assignment Score: 0 of 4 pts 10 of 12 P4-29 (similar to) (Efficiency analysis) The Brenmar Sales Company had a gross profit margin (gross profits + sales) of 35 percen Brenmar's current assets equal $1.1 million, its current liabilities equal $299,800, and it has $104,800 in cash plus a. If Brenmar's accounts receivable equal $562,800, what is its average collection period? b. If Brenmar reduces its average collection period to 25 days, what will be its new level of accounts receivable? c. Brenmar's inventory turnover ratio is 9.1 times. What is the level of Brenmar's inventories? a. If Brenmar's accounts receivable equal $562,800, what is its average collection period? The company's average collection period will be days. (Round to two decimal places.) Question Help ercent and sales of $8.1 million last year. 77 percent of the firm's sales are on credit, and the remainder are cash sales. plus marketable securities. able