Please Show Your Work!! 1) Your consulting firm was recently hired to improve the performance of Ramco, Inc, which is highly profitable but has been experiencing cash shortages due to its high growth rate. As one part of your analysis, you want to determine the firm's cash conversion cycle. Using the following information and a 365-day vear, what is the firm's present cash conversion cycle (to the nearest day)? (5 pts) S75,000 $600,000 $360,000 $160,000 $25,000 Average inventory = Annual sales= Annual cost of goods sold - Average accounts receivable - Average accounts payable = uire tht le h, oe FASE A firm buys on terms of 3/15, net 60. It does not take the discount and usually pays after 60 days- What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year? (5 pts) 2) 3) Let's discuss leases: (a) In the space below, please CONCISELY and EXPLICITLY explain the difference between an operating lease and a financial (or capital) lease. (2 pts) hod vala Please list two of the FASB tests which, if passed, requires that a lease be treated as a financial (capital) lease? (2 pts) (b)