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Problem 12.16 Blackwell Automotive, Inc., reported the following financial information for the last fiscal year. Blackwell Automotive, Inc Assets Cash and marketable sec. $ 23,015
Problem 12.16 Blackwell Automotive, Inc., reported the following financial information for the last fiscal year. Blackwell Automotive, Inc Assets Cash and marketable sec. $ 23,015 Accounts payable and accruals $177,000 Accounts Receivable169,000 Notes payable Inventories Other current assets 11,223 Liabilities and Equity $21,115 $ 150,000 Total current assets 353,238 Total current liabilities $1 Sales and Costs Net sales Cost of goods sold 920,000 $552,000 Calculate the firm's cash conversion cycle and operating cycle. (Round intermediate calculations and final answers to 1 decimal place, e.g. 15.1.) Blackwell's cash conversion cycle is days and their operating cycle is days
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