QUESTION 15

1. 	B	C	D
   	You are analyzing the management of assets for the Gamma Corporation.
   	The data comes from their Income Statement and Balance Sheet.
   	Sales	14856780
   	Gross Profit	3091460
   	EBIT	2184786
   	Net Income	1945350
   	Cash	1678567
   	Marketable Securities	345667
   	Accounts Receivable	2458765
   	Inventory	3278904
   	Prepaid Expenses	252892
   	Property Plant & Equipment	8894321
   	Accounts Payable	3785678
   	Short Term Portion of Long Term Debt	797345
   	Days in the year	365
   	days of receivables	365/receivable turnover
   	days of inventory	365/inventory turnover
   	days of payables	365/payaables turnover
   	Conversion Cycle	days of Receivables + days of inventory - days of payables

   What are the net days of the Cash Conversion Cycle?

   	a.	Net Days of the Cash Conversion Cycle = 68.44 days
   	b.	Net Days of the Cash Conversion Cycle = 44.68 days
   	c.	Net Days of the Cash Conversion Cycle = 34.68 days
   	d.	Net Days of the Cash Conversion Cycle = 54.68 days