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Question #5 (8 marks) Consider the following common-size financial statements: Note: Every B/S item is divided by TA; and, every I/S item is divided by

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Question #5 (8 marks) Consider the following common-size financial statements: Note: Every B/S item is divided by TA; and, every I/S item is divided by Sales. B/S A/R Inventory A/P 25% 8% 20% 1/S Sales CGS Purchases 100% 40% 40% Asset turnover (ATO) = 1.5. Assume 360 days in a year. Calculate the cash conversion cycle and comment on your results

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