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Cash Conversion Cycles Days Inventory 113.35 days Days Receivable 76.36 days 1 Operating Cycle 189.71 days Days Payable 78.66 days Net Operating Cycle 11105 days

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Cash Conversion Cycles Days Inventory 113.35 days Days Receivable 76.36 days 1 Operating Cycle 189.71 days Days Payable 78.66 days Net Operating Cycle 11105 days 2018 113.35 Days Inventory 2017 112.84 Change 2018 2018 2018 Sales/day COGS/day Cash Savings 50 17 x Days Receivable 76 36 77.03 19 X $0 **Owys Payable 78.56 78.99 50 Net Operating Cycle 111.05 110.80 SO equals Cash generated or Sales Cost of Goods Sold 562 020 use for Days Receivables 340.9.2 use for Days Payable and Days inventory secev - Day Outstanding increase in base a wwwert de Cash Conversion Cycles Days Inventory 113.35 days Days Receivable 76.36 days 1 Operating Cycle 189.71 days Days Payable 78.66 days Net Operating Cycle 11105 days 2018 113.35 Days Inventory 2017 112.84 Change 2018 2018 2018 Sales/day COGS/day Cash Savings 50 17 x Days Receivable 76 36 77.03 19 X $0 **Owys Payable 78.56 78.99 50 Net Operating Cycle 111.05 110.80 SO equals Cash generated or Sales Cost of Goods Sold 562 020 use for Days Receivables 340.9.2 use for Days Payable and Days inventory secev - Day Outstanding increase in base a wwwert de

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