Simon Corporation is evaluating a relaxation of its credit policy. At present. 70 percent of sales are on credit and there is a gross margin of 20 percent. Additional data are: Current Anticipated Sales $500,000 $640,000 Credit sales $410,000 $520,000 4% of credit sales Collection expenses Collection period 3% of credit sales 72 days 90 days Using 360 days in a year, answer the following questions: (a) What is the change in gross profit associated with the proposal? (b) What is the incremental change in collection expenses? (c) What is the change in average accounts receivable?