(Efficiency analysis) The Brenmar Sales Company had a gross profit margin? (gross profits÷?sales) of 34 percent...

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(Efficiency analysis) The Brenmar Sales Company had a grossprofit margin? (gross profits÷?sales) of 34 percent and sales of$9.3 million last year. 76 percent of the? firm's sales are on?credit, and the remainder are cash sales. ? Brenmar's currentassets equal $1.7 million, its current liabilities equal $299,200?,and it has $102,800 in cash plus marketable securities. a. If?Brenmar's accounts receivable equal $562,300?, what is its averagecollection? 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 9.2 times. What is thelevel of? Brenmar's inventories?

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(Efficiency analysis) The Brenmar Sales Company had a grossprofit margin? (gross profits÷?sales) of 34 percent and sales of$9.3 million last year. 76 percent of the? firm's sales are on?credit, and the remainder are cash sales. ? Brenmar's currentassets equal $1.7 million, its current liabilities equal $299,200?,and it has $102,800 in cash plus marketable securities. a. If?Brenmar's accounts receivable equal $562,300?, what is its averagecollection? 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 9.2 times. What is thelevel of? Brenmar's inventories?