c.) Calculate the firm's cash conversion cycle given that annual sales are $660,000 and cost of goods sold represents 90% of sales. Asuume a 365-day year.

h.) What reasons might SKI have for maintaing a relatively high amount of cash?

i.) Is there any reason to think that SKI may be holding too much inventory? If so, how would that affect EVA and ROE?

j.) If the company reduces its inventory without adversely affecting sales, what effect should this have on the company's cash position 1. in the short run and 2. in the long run? Explain in terms of the cash budget and the balance sheet.