(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, x Data table (Click on the following icon in order to copy its contents into a spreadsheet.) SalesNet Receivables-Total Acounts payable InventoriesTotal 2014 4,399 609 444 345 2015 5,253 818 673 441 2016 7.923 1,025 705 642 2017 11,698 1,304 1,556 377 2018 18,481 2,204 2,400 350 Print Done