CURL Inc. shared with you the following financial statements: 1. Find the Operating Cycle and Cash Conversion cycle for Curl. Inc. given the following data: Income statement Sales $920,000 Cost of Goods Sold (260,000) Selling Expenses (26,000) Depreciation Expense (108,000) Income Taxes _(10,000) Net Income $516,000 Balance sheet Assets Cash $322,600 Marketable Equity Securities Accounts Receivable Inventories Land 19,000 246,400 225,000 160,000 480,000 Buildings and Equipment Accumulated Depreciation Total Assets _(60,000) $1,393,000 Liabilities & Equity Accounts Payable $200,000 Bonds 101,000 Common Stock Accumulated Other Comprehensive Income Retained Earnings Total Liabilities & Shareholders' Equity 350,000 (1,000) 743,000 $1,393,000 2. Given the following industry averages, what do you recommend Curl Inc. to do in order to enhance its working capital management? Industry OC = inventory days + Accounts receivables days 300 + 70 = 370 days Industry inventory days + Accounts receivables days 300 + 70 - 250 = 120 days CCC Accounts payable days =