Please, Explain each step by step.

Dilultiple changes in cash conversion cycle Garrett Industries turns over its inventory t5 times each year; it has an average collection period of 45 days and an average payment period of 3D days. The rm's annual sales are $3 million. Assume there is no difference in the investment per dollar of sales in inventory, receivables, and payables, and assume a 365-day year. a. Calculate the rm's cash conversion cycle, its daily cash operating expenditure, and the amount of resources needed to support its cash conversion cycle. h. Find the rm's cash conversion cycle and resource investment requirement if it makes the following changes simultaneously. 1. Shortens the average age of inventory by 5 days. 1. Speeds the collection of accounts receivable by an average of IE days. 3. Extends the average payment period by 10 days. c. H'the firm pays 13% for its resource investment, by how much, if anything, could it increase its annual prot as a result of the changes in part b? d. che annual cost of achieving the prot in part c is $35,13'DU, what action would you recommend to the rm? only