4748. Spartan Sporting Goods has $5 million in inventory and $2 million in accounts receivable. Its average daily sales are $100,000. The firm's "Cost of Good Sold" (COGS) in 75% of the firm's sales level. Spartan's payables deferral period (accounts payable divided by daily purchases) is 30 days. What is the length of the company's cash conversion cycle (assume a 365-day year)? 36. Better Book Publishers, Inc. has credit terms of "1%, 15; net 40 days." With these credit terms, what is the nominal annual cost of non-free trade credit? Assume that payment is made on either the discount date or on the due date. 3738. Chasmark Corporation's budgeted monthly sales are $5,000. Forty percent of its customers pay in the first month and take the 3 percent discount. The remaining 60 percent pay in the month following the sale and son't receive a discount Chadmarka bad debts are very small and are excluded from this analysis. Purchases for next month's sales are constant each month at $3,500. Other payments for wages, rent, and taxes are constant at $900 per month. Construct a single month's cash budget with the information given. What is the average cash gain or (loss) during a typical month for Chadmark Corporation