Exercise 22-21 (Algo) Cash conversion cycle LO A4 A manufacturer reports the data below. (1) Compute the number of days in the cash conversion cycle. (2) Is the company more efficient at managing cash than its competitor who has a cash conversion cycle of 14 days? Complete this question by entering your answers in the tabs below. Compute the number of days in the cash conversion cycle. (Use 365 days in a year. Round calculations to the nearest whole day.) Exercise 22-16 (Algo) Profit margin LO A2 The Food division of Garcia Company reports the following for the current year. Garcia wants to achieve at least a 10% profit margin next year. Two alternative strategies are proposed. Strategy 1: Increase advertising expenses by $225,000. The company expects this to increase sales by $710,000. Cost of goods sold will not change. Strategy 2: Develop a more efficient manufacturing process. This will decrease cost of goods sold by $114,800. a. For each strategy, compute the profit margin expected for next year. b. Which strategy should Garcia choose based on expected profit margin? Complete this question by entering your answers in the tabs below. For each strategy, compute the profit margin expected for next year. (Round your answers to one decimal place.)