Pen Paper's sales are $84,000,000, EBIT is $25M, cost of goods sold are $52M, and net income is $5,400,000. Account receivables is $12M, inventory is $10,000,000, and account payables $15,000,000. Pen Paper's cost of capital is 12.5% with a marginal tax rate of 30%. Finally, the debt to equity ratio is 140%. - Find the inventory conversion period - Find average collection period or days sales outstanding - Find the payable deferral period - Find the operating cycle. - Find the cash conversion cycle