(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 fin 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 for cost of goods sold equals 70% of sales. (Round to two decimal places) 2014 2015 2016 2017 2018 Days of sales outstanding (DSO) (Round to two decimal places) 2014 2015 2016 2017 2018 Days of sales in inventory (DSI) (Round to two decimal places) 2014 2015 2016 2017 2018 Days of payables outstanding (DPO) What has Crimson accomplished in its atempts to better manage its investments in account receivable and inventory? "Crimson has made dramatic improvement to its working capital management by making a reduction in the firm's cash conversion cycle1 is the above statement true of false? (Select from the drop-down menu) b. Calculate Crimson's cash conversion cycle for each of the 5 years. Assume a 365 day year (Round to two decimal places) 2014 2015 2016 2017 2018 Cash conversion cyde (CCC) (Click on the following icon in order to copy its contents into a spreadsheet.) Sales-Net Receivables-Total Acounts payable InventoriesTotal 2014 4,371 614 438 340 2015 5,218 815 685 430 2016 7,973 1,066 697 644 2017 11,683 1,371 1,578 382 2018 18,458 2,280 2,462 342 Print Done