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Question: efficiency analysis the brenmar sales company had a gross profit...

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​(Efficiency analysis)  The Brenmar Sales Company had a gross profit margin​ (gross profits divided by ​sales) of 25 percent and sales of $ 9.2 million last year.  73 percent of the​ firm's sales are on​ credit, and the remainder are cash sales. ​ Brenmar's current assets equal $ 1.7 ​million, its current liabilities equal $ 301 comma 400​, and it has $ 100 comma 000 in cash plus marketable securities. a. If​ Brenmar's accounts receivable equal $ 562 comma 000​, what is its average collection​ period? b. If Brenmar reduces its average collection period to 15 ​days, what will be its new level of accounts​ receivable? c.  ​Brenmar's inventory turnover ratio is 8.4 times. What is the level of​ Brenmar's inventories?

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