The Brenmar Sales Company had a gross profit margin? (gross profits ? sales) of 29 percent and sales of $ 9.4million last year. 77 percent of the? firm's sales are on? credit, and the remainder are cash sales. ? Brenmar's current assets equal $ 1.1million, its current liabilities equal 302,000?, and it has $102,900 in cash plus marketable securities.

a. If? Brenmar's accounts receivable equal $563,300?, what is its average collection? period?

b. If Brenmar reduces its average collection period to 20 ?days, what will be its new level of accounts? receivable?

c. ?Brenmar's inventory turnover ratio is 9.3 times. What is the level of? Brenmar's inventories?