Q#4 _(CLO-4) (3 Marks) BALANCE SHEET Cash Accounts receivable Inventories Current assets Net fixed assets Total assets $12,680 8,930 $ 3,750 $ 400 1,300 2,100 $3,800 3,320 $7,120 INCOME STATEMENT Net sales (all credit) Cost of goods sold Gross profit Selling, general, and administration expenses Interest expense Profit before taxes Taxes Profit after taxes 2,230 460 $ 1,060 390 $ 670 Accounts payable Accruals Short-term loans Current liabilities Long-term debt Net worth Total liabilities and net worth $ 320 260 1,100 $1,680 2,000 3,440 $7,120 Required: Calculate the cash operating cycle. Assume that each year has 360 days