Problem 4-8 (similar to) Question Help Evaluating liquidity) The Tabor Sales Company had a gross profit margin (gross profits+sales) of 30 6 percent and sales of S9 5 million last year Seventy-five percent of the firm's sales are on credit and the remainder are cash sales. Tabor's current assets equal $2.4 million, its current liabilities equal $286,000, and it has $99,000 n cash plus marketable securities a. If Tabor's accounts receivable are $562 500, what is its average collection period? b. If Tabor reduces its average collection period to 18 days, what will be its new level of accounts receivable? c. Tabor's inventory turnover ratio is 9 9 times. What is the level of Tabor's inventories? a. f Tabor's accounts receivable are $562 500, its average collection period is days. (Round to two decimal places) Enter your answer in the answer box and then click Check