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Problem 12.16 Blackwell Automotive, Inc., reported the following financial information for the last fiscal year. Blackwell Automotive, Inc. Assets Liabilities and Equity Cash and marketable
Problem 12.16 Blackwell Automotive, Inc., reported the following financial information for the last fiscal year. Blackwell Automotive, Inc. Assets Liabilities and Equity Cash and marketable sec. $ 23,015 Accounts payable and accruals $ 191,000 Accounts Receivable $ 140,000 Notes payable $ 21,115 Inventories $ 160,000 Other current assets $ 11,223 Total current assets $ 334,238 Total current liabilities $ 212,115 Sales and Costs Net sales Cost of goods sold $ 860,000 $ 516,000 Calculate the firm's cash conversion cycle and operating cycle. (Round intermediate calculations and final answers to 1 decimal Blackwell's cash conversion cycle is days and their operating cycle is Click if you would like to Show Work for this question: Qren Show Work days. LINK TO TEXT
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