Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales outstanding $($DSO$)$ on its cash conversion cycle. Chastain's $2016$ sales $($all on credit$)$ were $$242000$; its cost of goods sold is $80\%$ of sales; and it earned a net profit of $8\%,$ or $$19360.$ It turned over its inventory $6$ times during the year, and its DSO was $39\mathrm{.}5$ days. The firm had fixed assets totaling $$42000.$ Chastain's payables deferral period is $50$ days. Assume $365$ days in year for your calculations. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Cash conversion cycle

Sales $$242,000$

Cost of good sold $\%80\mathrm{.}00\%$

Net profit margin $8\mathrm{.}00\%$

Original Inventory turnover ratio $6\mathrm{.}0$

DSO $39\mathrm{.}5$

Fixed assets $$42,000$

Payables deferral period $50$

Calculate inventory conversion period: Formulas

Inventory #N$/$A

Inventory conversion period $($days$)$ #N$/$A

Calculate cash conversion cycle:

Cash conversion cycle $($days$)$ #N$/$A

Calculate total assets turnover:

Accounts receivable #N$/$A

Total assets #N$/$A

Total assets turnover #N$/$A

Calculate return on assets:

Net income #N$/$A

Return on assets $($ROA$)$ #N$/$A

Revised inventory turnover ratio $8\mathrm{.}7$

Calculate inventory conversion period:

Inventory #N$/$A

Inventory conversion period $($days$)$ #N$/$A

Calculate cash conversion cycle:

Cash conversion cycle $($days$)$ #N$/$A

Calculate total assets turnover:

Accounts receivable #N$/$A

Total assets #N$/$A

Total assets turnover #N$/$A

Calculate return on assets:

Net income #N$/$A

Return on assets $($ROA$)$ #N$/$A

Calculate Chastain's cash conversion cycle. Round your answer to two decimal places. Do not round intermediate calculations.

$\_\_\_\_\_\_\_\_$ days

Assuming Chastain holds negligible amounts of cash and marketable securities$,$ calculate its total assets turnover and ROA. Round your answers to two decimal places. Do not round intermediate calculations.

Total assets turnover $\_\_\_\_\_\_\_\_\_\_\_$

ROA $\_\_\_\_\_\_\_\_\_\_\_\%$

Suppose Chastain's managers believe that the inventory turnover can be raised to $8\mathrm{.}7$ times. What would Chastain's cash conversion cycle, total assets turnover, and ROA have been if the inventory turnover had been $8\mathrm{.}7$ for $2016?$ Round your answers to two decimal places. Do not round intermediate calculations.

Cash conversion cycle $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$ days

Total assets turnover $\_\_\_\_\_\_\_\_\_\_\_\_$

ROA $\_\_\_\_\_\_\_\_\_\_\_\%$