Cash conversion cycle. American Products is concemed abcut managing cash oflicionty. On the averago, livantorios have an age of 75 days, and accounts recoivable are coliected in 41 days Accounts payable are paid approximately 27 days after they arise. The firm has annual salos of about $33 malion. Cost of goods sold are $18 million, and purchases are $13 millan. a. Colculate the forris operating cyde. b. Caiculaie the firn's cash conversion cycle. c. Calculate the amount of resources needed to support the flm's cash converion cycia. d. Discuss how managonent might be able to reduce the cash canveraion cyclo