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Correct the mistakes and in the question! The numbers are just wrong 1.01 equirement 1c. Compute the cash conversion cycle. (Do not round any intermediary
Correct the mistakes and in the question! The numbers are just wrong
1.01 equirement 1c. Compute the cash conversion cycle. (Do not round any intermediary calculations. Round to the nearest full day and use a 36 Cash conversion Days-sales-in-inventory + A/R collection period AJP payment Period cycle 59 51 31 79 days Current Year Previous Year ent rati Balance Sheet Cash $ 25,000 $ = = 33,000 Short-term investments 16,000 27,000 wo del Accounts receivables, net 55,000 . 74,000 Inventory 55,000 51,000 urrent Prepaid expenses 5,000 13,000 55 Total current assets 156,000 198,000 d any tions.) Accounts payable 41,000 38,000 Total current liabilities 95,000 89,000 Income Statement Net sales $ 464,000 Cost of goods sold 370,000 55,000 Net incomeStep by Step Solution
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