Equity Last saved 34709 PM Inventory Accounts receivable Fixed asset minutes remaining kelen Harms is a wedi anajst with the First National Bank Harris has been asked to evaluate Longhorn Supply Company's cash needs Haris began by calculating Longhorn's turnover ratios for 2007. After a discussion with Logams management Harris decides to adjust the turnover ratios for 2008 as follows Accounts payable Backbord X & OBQ 2.3 5.5 4.0 6.0 3.0 2007 Actual Turnover 5.0 8% 4 OF 12 QUESTIONS REMAINING Expected Increase/(Decrease) (20%) (5%) Longtunts expected cast conversion cycle for 2008, based on the expected changes in turnover and assuming a 365 day year is closest to 10%