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Multiple changes in cash conversion eyele Garrett Industries turns over its inventory 6 times each year, it has an average collection period of 42 days and an average payment period of 26 days. The firm's annual sales are $3,1 milion Assume there is no difference in the investment per dollar of sales in inventory, receivables and payable and a 10-day yout. Coulate the firm's cash conversion cycle, te daly cash operating expenditure, and the amount of resourons needed to support its ch conversion de b. Find the firm's cash conversion cycle and resource investment requirement if it makes the following changes simultaneously (1) Shortens the average age of inventory by 7 days (2) Speeds the collection of accounts receivable by an average of 12 days e. If the firm pays 16% for its resource investment, by how much, If anything could it increase its annual profit as a result of the changes in part b? d. If the annual cost of achieving the profit in parte la $34,000, what action would you recommend to the firm? Why? a. The firm's canh conversion cycle, CCC, days (Round to the nearest whole day) The firm's daily cash operating expenditure la s (Round to the nearest dollar) The amount of resources needed to support the firm's cash conversion cydelis (Round to the nearest dolar) b. Find the time cash conversion cycle and resource Investment requirement if it makes the following changes simultaneously (1) Shortens the average age of inventory by 7 days (2) Speeds the collection of accounts receivable by an average of 12 days. (3) Extends the average payment period by 9 days The new cash conversion cyclo, ccc days. (Round to the nearest whole day.) The new amount of resources needed to support the firm's cash conversion cycle is $(Round to the norost dollar) c. If the firm pays 16% for its resource investment, it could increase its annual profit as a result of the changes in part b by $(Round to the nearest della ) d. If the annual cost of achieving the profit in parte is $34,000, what action would you recommend to the fom? Why? (Select the best answer below) O A. The firm should reject the proposed changes because the increase in profits exceeds the additional costs. OB. The firm should reject the proposed changes because the additional costs exceed the increase in profits C. The firm should accept the proposed changes because the increase in profits exceed the additional costs OD. The firm should accept the proposed changes because the increase in profits are less than the additional costs