Please don't use excel to calculate these, showing each step

Question 4 (10 marks) a) Telecom industries has the following financial information. Calculate its cash conversion cycle and interpret what the value means. (4 marks) Sales $110,000 Cost of goods sold $90,000 Accounts receivable $32,000 Inventory $20,000 Accounts payable $50,000 b) FIN222 Ltd purchases supplies on terms of 1/10, net 35. If FIN222 Ltd chooses to take the discount offered, it must obtain a bank loan to afford it. NBC bank has quoted an APR of 16% on borrowed funds. (4 marks) i) Once FIN222 Led passes the discount period, how much cost will it incur in an annual term? i) Calculate the EAR for NBC bank. iii) What should FIN222 Ltd do? Indicate whether the following sentence is True (T) or False (F). i) If a supplier is offering trade credit of 1/10 net 40, and your firm chooses not to take the discount, your firm should pay anytime between day 11 and day 40. (1 mark) ii) An aging schedule is useful for accounting receivable management. (1 mark)