QUESTION 2-Cash Conversion Cycle (25 POINTS) Below you find the relevant financial data of 2 well known Global Players in their specific industries: - Roche: one of the leading pharmaceutical companies, - Nestle: one of the leading food & beverage companies. a) Please calculate the Cash Conversion Cycles (in days, based on 365 days/year) for the year 2019 for both companies (rounded to one decimal place) the calculation should be comprehensible and transparent for the individual steps. (16 points) Roche (in mio CHF) Nestle (in mio CHF) Income statement Year 2019 2018 2019 2018 Sales 63.751 59.497 92.568 91.439 Cost of goods sold 18.351 17.269 46.647 46.070 Balance sheet as of 31.12.2019 31.12.2018 31.12.2019 31.12.2018 Inventory 6.055 6.621 9.343 9.125 Acc Receivables 10.440 9.776 9.408 9.091 Acc Payables 3.822 3.526 14.017 13.045