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 19,000 Marketable Equity Securities Accounts Receivable 246,400 Inventories 225,000 Land 160,000 480,000 _(60,000) $1,393,000 Buildings and Equipment Accumulated Depreciation Total Assets Liabilities & Equity Accounts Payable Bonds Common Stock Accumulated Other Comprehensive Income Retained Earnings Total Liabilities & Shareholders' Equity $200,000 101,000 350,000 (1,000) 743,000 $1,393,000