11. Now that we have determined there might be an operational issue, efficiency ratios should be used to further drill down into the data. Use the Associated Industries Balance sheet and Profit and Loss to calculate the efficiency ratios and working capital for 2016 and 2017. (Make sure to label all your answers appropriately.) 15. Define what the payment period tells you and use the data you calculated to discuss the payment period and how that will affect the business. Answer: 16. Define what Cash Conversion Cycle tells you and use the data you calculated to discuss what has happened to the Cash Conversion Cycle and how that will affect the business. Answer: 17. Define what the inventory turnover tells you and use the data you calculated to discuss Inventory Turnover and how that will affect the business 11. Now that we have determined there might be an operational issue, efficiency ratios should be used to further drill down into the data. Use the Associated Industries Balance sheet and Profit and Loss to calculate the efficiency ratios and working capital for 2016 and 2017. (Make sure to label all your answers appropriately.) 15. Define what the payment period tells you and use the data you calculated to discuss the payment period and how that will affect the business. Answer: 16. Define what Cash Conversion Cycle tells you and use the data you calculated to discuss what has happened to the Cash Conversion Cycle and how that will affect the business. Answer: 17. Define what the inventory turnover tells you and use the data you calculated to discuss Inventory Turnover and how that will affect the business