Please solve all parts by hand:

2. Portal Systems, Inc. has annual credit sales of $72.000.000. Its cost of sales equals 75 percent of sales and the company keeps $11,000,000 of inventory on average. The firm's average level of accounts receivable is $8,000,000. The firm makes all resource purchases on credit. Its payables deferral period is 41 days, and it consistently makes payments in exactly that amount of time. a. What is the firm's cash conversion cycle? b. The firm's managers are searching for ways to reduce the cash conversion cycle. If sales can be maintained at existing levels, but inventory can be lowered by $1,200,000 and accounts receivable lowered by $500,000, what will be the net change in the cash conversion cycle? Assume a 365-day year