Check My Work Co remaining) Book 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 2018 sales (alon credit) were $130,000; its cost of goods sold is 80% of sales; and it camned a net profit of 3%, or $10,400. It turned over its inventory 6 times during the year, and its so was 31.5 days. The firm had feed assets totaling $43,000. Chastain's payables deferral period is 40 days. Assume 365 days in year for your calculations. 2. Calculate Chastain's cash conversion cycle. Do not round Intermediate calculations. Round your answer to two decimal places days b. Assuming Chastain holds negligible amounts of cash and marketable securities, calculate its total assets turnover and ROA. Do not found intermediate calculations. Round your answers to two decimal places Total assets turnover ROA c. Suppose Chastain's managers believe that the inventory turnover can be raised to 9.7 times. What would Chastain's cash conversion cycle, total assets turnover, and ROA have been the inventory turnover had been 9.7 for 2018? Do not round intermediate calculations, Round your answers to two decimal places days Cash conversion cycle Total assets turnover ROA % ChMy Watu