(Cash conversion cycle) Historical data for the firm's sales, accounts receivable, inventories, and accounts payable for the Crimson Mfg. Company follow: a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. (Assume a 365-day year. Hint: Assume that the firm's cost of goods sold equals 70% of sales.) What has Crimson accomplished in its atempts to better manage its investments in account receivable and inventory? b. Calculate Crimson's cash conversion cycle for each of the 5 years. Evaluate the firm's overall management of its working capital. Assume a 365-day year. a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. Assume a 365-day year. Hint Assume that the firm's cost of goods sold equals 70% of sales. (Round to two decimal places.) 2014 2015 2016 2017 2018 Days of sales outstanding (DSO) Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) SalesNet Receivables-Total Acounts payable InventoriesTotal 2014 4.356 616 422 340 2015 5,267 818 682 457 2016 7,900 1,035 688 654 2017 11,644 1,348 1.588 386 2018 18,414 2.252 2,452 370 Print Done (Cash conversion cycle) Historical data for the firm's sales, accounts receivable, inventories, and accounts payable for the Crimson Mfg. Company follow: a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. (Assume a 365-day year. Hint: Assume that the firm's cost of goods sold equals 70% of sales.) What has Crimson accomplished in its atempts to better manage its investments in account receivable and inventory? b. Calculate Crimson's cash conversion cycle for each of the 5 years. Evaluate the firm's overall management of its working capital. Assume a 365-day year. a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. Assume a 365-day year. Hint Assume that the firm's cost of goods sold equals 70% of sales. (Round to two decimal places.) 2014 2015 2016 2017 2018 Days of sales outstanding (DSO) Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) SalesNet Receivables-Total Acounts payable InventoriesTotal 2014 4.356 616 422 340 2015 5,267 818 682 457 2016 7,900 1,035 688 654 2017 11,644 1,348 1.588 386 2018 18,414 2.252 2,452 370 Print Done