Given the following information, calculate for2016thenumber of days of working capital financing the firm will need to obtain from other sources?

To receive credit, you must show all intermediate steps (i.e., show the calculations of theDays Outstanding(includingembedded Turnover ratios) for each ofAccounts Receivable,Inventory, andAccounts Payable, as well as theintermediate calculation of Purchasesused to calculate Days Outstanding for Payables, and finally, the number of days of external working capital financing required.

You must upload your work in an individual Excel file or an individual image file (if you are taking pictures of your handwritten work).I will be grading this problemmanually and will update your exam score accordingly.

2015

2016

Accounts Receivable, net

$1,036

$1,124

Accounts Payable

406

384

Inventory

1,070

1,128

Credit Sales

6,410

7,272

Cost of Goods Sold

4,074

4,588

Selling and Admin. Expense

2,162

2,262