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Consider the following financial statement information for the Newk Corporation: Item Inventory Accounts receivable Accounts payable Credit sales Beginning $ 11,000 6,000 Ending $

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Consider the following financial statement information for the Newk Corporation: Item Inventory Accounts receivable Accounts payable Credit sales Beginning $ 11,000 6,000 Ending $ 12,000 6,300 8,200 8,600 $ 90,000 70,000 Cost of goods sold Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Operating cycle Cash cycle days days

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