Cash management is a very important function of managers. Companies need to manage their operations in a way that they can sustain growth and yet not run out of cash. Consider the following case: Extensive Enterprise Inc. has forecasted sales of $28.0 million for next year and expects its cost of goods sold (COGS) to remain at 60% of sales. Currently, the firm holds $3.2 million in inventories, $2.2 million in accounts receivable, and $2.5 million in accounts payable. Approximately how long does it currently take Extensive Enterprise Inc. to convert raw materials to its finished products and then to sell them? (Note: Use 365 days as the length of a year in all calculations.) 55.62 days O 48.66 days O 52.14 days 69.52 days On average, how long does it take from the time a sale is made until the time cash is collected from customers