Garcia Industries balance sheet and income statement are as follows:

Balance Sheet

Assets		Liabilities
Cash	6	A/P	10
A/R	14	Salaries Payable	2
Inventory	12	Other Current	10
PP&E Net	40	Long Term Debt	12
		Equity	38
Total Assets	72	Total Liabilities and Equity	72

Income Statement

Net Sales	100
Cost of Sales	60
Selling, General, & Admin Expense	20
Other Expense	15
Net Income	5

1. Inventory Conversion Period?

2. Receivables Conversion Period?

3. Operating Cycle?

4. Payables Deferral Period?

5. Cash Conversion Cycle?

6. Explain what the cash conversion cycle is below.