a). Cash conversion cycle: Company X reported the following information for the last fiscal year. Company X As of Assets Liabilities and Equity 12/31/2021 Inventories USD 200 000 Accounts Receivable 180 000 Borrowings USD 190 000 200 000 Cash and financial assets 25 000 Accounts payable and available for sale accruals Other current assets 18 000 Total current assets USD 423 000 Total current liabilities USD 390 000 Fixed Assets 500 000 Long-term debt 150 000 383 000 Equity Total Assets USD 923 000 Total Liabilities & USD 923 000 Equities Net sales (credit) USD 800 000 Cost of goods sold 380 000 Calculate the firm's cash conversion cycle and operating cycles. (20 points) b). What is the financing strategy of Company X? Aggressive or conservative? Is the strategy already proper enough for the company? Please give your recommendation for them! (5 points)