II. Your firm is concerned about managing cash efficiency. On average, the firm holds inventories 105 days, pays its suppliers in 40 days, and collects the accounts receivables in 75 days. The firm has annual credit sales of $120 million, annual inventories $90 million, and annual credit purchase $75 million. (1) Calculate the firm's inventory turnover and accounts receivable turnover (2) Calculate the firm's operating cycle (3) Calculate the firm's cash cycle (4) Calculate the amount of cash needed to support the firm's cash cycle