QUESTION 6: You are tasked to improve the performance of Mai-E-Gee Systems, which is highly profitable but has been experiencing cash shortages due to its high rate of growth. As one part of your analysis, you want to determine the firm's cash conversion cycle. Using the following information and a 365-day year, what is your estimate of the firm's present cash conversion cycle? Based on the information provided, how could company reduce its cash conversation cycle? Inventorv balance: Annual sales A ccounts receivable A ccounts payable Cost of goods sold: Annual purchases Buy on net 40 days, no discounts: 40 Sell on net 60 days, no discounts: 0 RM130,000.00 RM750,000.00 RM160,000.00 RM 35,000.00 75% of annual sales 80% of cost of goods sold