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Multiple changes in cash conversion cycle Garrett Industries turns over its inventory 7 times each year, it has an average collection period of 36 days and an op average payment period of 33 days The firm's annual sales are $28 million Assume there is no difference in the investment per dollar of sales in inventory ch receivables, and payables, and a 365 day year a. Calculate the firm's cash conversion cycle, its daily cash operating expenditure, and the amount of resources needed to support its cash conversion cycle b. Find the firm's cash conversion cycle and resource investment requirement ifit makes the following changes simultaneously tps (1) Shortens the average age of inventory by 6 days (2) Speeds the collection of accounts receivable by an average of 9 days in9 (3) Extends the average payment period by 9 days nfa c. If the firm pays 9% for its resource investment, by how much, f anything, could it increase its annual profit as a result of the changes in part b? gar d. If the annual cost of achieving the profit in part e is $32,000, what action would you recommend to the firm? Why? i, I anything, could it increase its annual profit as a result of the cha VI aLmeving the profit in part c is $32,000, what action would you recommend to the firm? Why? a. The firm's cash conversion cycle, CCC, is days. (Round to the nearest whole day.) The firm's daily cash operating expenditure is $. (Round to the nearest dollar.) The amount of resources needed to support the firm's cash conversion cycle is $ (Round to the nearest dollar.) 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 6 days. (2) Speeds the collection of accounts receivable by an average of 9 days. (3) Extends the average payment period by 9 days. The new cash conversion cycle, CCc, days. (Round to the nearest whole day.) (Round to the nearest dollar The new amount of resources needed to support the firm's cash conversion cycle is $ JUI LYLO S S (Hound to the nearest dollar) c. If the firm pays 9% for its resource investment, it could increase its annual profit as a result of the changes in part b by $ (Round to the nearest de d. If the annual cost of achieving the profit in part c is $32,000, what action would you recommend to the firm? Why? (Select the best answer below) at O A. The firm should reject the proposed changes because the additional costs exceed the increase in profits at O B. The firm should accept the proposed changes because the increase in profits exceeds the additional costs O C. The firm should accept the proposed changes because the increase in profits are less than the additional costs. nat O D. The firm should reject the proposed changes because the increase in profits exceeds the additional costs Click to select your answer(s)