Question 3 Consider the following financial information for Applet Ltd for the year ending December 31 2022. Items Inventory Accounts Receivable Accounts Payable Other information Net Sales Cost of goods sold Net Purchases 1 January Required: Calculate: i.) the firm's cash conversion cycle. $6200 11 836 9 200 90 000 55 400 56 000 31 December 6620 13 200 10 200 The firm has a current annual outlay of $4 320 000 on operating cycle investments. The firm currently pays 10% for its negotiated financing (assume a 360 day operating year) [2 marks] ii.) the firm's operating cycle. [1 mark] iii.) the daily expenditure and the firm's annual savings if the operating cycle is reduced by 15 days. [2 marks]