m BE (Cash conversion cycle) Historical data for the firm's sales, accounts receivable, inventories, and accounts payable for the Crimson Mfg. Company follow: a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. (Assume a 365-day year. Hint Assume that the firm's cost of goods sold equals 70% of sales.) What has Crimson accomplished in its atempts to better manage its investments in account receivable and inventory? b. Calculate Crimson's cash conversion cycle for each of the 5 years. Evaluate the firm's overall management of its working capital. Assume a a 365-day year lo a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. Assume a 365-day year. Hint: Assume that the firm's cost of goods sold equals 70% of sales. (Round to two decimal places.) 2014 2015 2016 2017 2018 Days of sales outstanding (DSO) D . X Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Sales-Net Receivables-Total Acounts payable Inventories-Total 2014 4,335 627 450 330 2015 5,210 811 680 458 2016 7,921 1,018 686 649 2017 11,635 1,317 1,564 371 2018 18,448 2,271 2,491 354 Print Done