On the table ,which showed the balance sheets for Rexe Textiles on three different dates. Assume all sales and all purchases are made on credit. Calculate the length of Rexe's cash conversion cycle on September 30, 2019 and December 31, 2019.

12/31/18 9/30/19 ($ million) Historical Projected 12/31/79 $ 15.0 $ 30.0 Projected 1. Balance Sheets 180.0 251.5 Cash and equivalents 270.0 410.0 2 165 Accounts receivable $465.0 $ 691.5 1980 Inventories Total current assets (CA) 380.0 408.5 2970 $ 1,100.0 $ 5715 Net plant and equipment $845.0 418.0 Total Assets $ 30.0 S 90.0 $929 5 60.0 100.0 Accounts payable $ 33.0 40.0 29.0 Accruals 66.0 Notes payable $ 130.0 $ 319.0 46.8 Total current liabilities (CL) 300.0 309.0 $ 145.8 Long-term bonds $430.0 $ 628.0 309.0 Total liabilities 130.0 159.3 $454.8 Common stock (25 million shares) 285.0 312.7 1593 Retained earnings $ 472.0 315.5 Total common (owners') equity $ 415.0 Total Liabilities and Equity $845.0 $ 1,100.0 $ 474.8 $929.5 Net working capital = CA - CL $335.0 $ 372.5 Current ratio = CA/CL 3.6X 2.2X $365.7 3.6X 2018 2019 ll. Partial Income Statements Sales $1,500.0 Cost of goods sold Fixed costs (1,230.0) $1,650.0 Earnings before interest and taxes ( 140.0) (1,353.0) 130.0 154.0 ) ding difference. 143.0