See Table showing financial statement data and stock price data for Mydeco Corp.

a. Compare accounts payable days in 2015 and 2019.

b. Did this change in accounts payable days improve or worsen Mydeco's cash position in 2019?

(Note: Use a 365-day year.)

Income Statement 2015 2016 2017 2018 2019 Revenue 405.8 367.8 420.8 507.7 604.9 Cost of Goods Sold (186.1) (171.4) (211.0) (250.3) (297.4) Gross Profit 219.7 196.4 209.8 257.4 307.5 Sales and Marketing (64.9) (67.9) (81.7) (105.5) (116.2) Administration (59.0) (58.0) (57.7) (67.8) (77.7) Depreciation & Amortization (26.3) (26.3) (35.6) (37.3) (39.6) EBIT 69.5 44.2 34.8 46.8 74.0 Interest Income (Expense) (34.4) (32.9) (31.9) (37.0) (41.1) Pretax Income 35.1 11.3 2.9 9.8 32.9 Income Tax (12.3) (4.0) (1.0) (3.4) (11.5) Net Income 22.8 7.3 1.9 6.4 21.4 Shares outstanding (millions) 55.3 55.3 55.3 55.3 55.3 Earnings per share $0.41 $0.13 $0.03 $0.12 $0.39 Balance Sheet 2015 2016 2017 2018 2019 Assets Cash 49.7 72.7 82.9 62.0 76.6 Accounts Receivable 87.1 69.8 69.9 78.7 84.3 Inventory 34.1 32.4 28.1 33.5 34.6 Total Current Assets 170.9 174.9 180.9 174.2 195.5 Net Property, Plant & Equip. 241.2 241.4 311.1 345.2 342.1 Goodwill & Intangibles 363.7 363.7 363.7 363.7 363.7 Total Assets 775.8 780.0 855.7 883.1 901.3 Liabilities & Stockholders' Equity Accounts Payable 18.2 19.3 21.5 26.2 31.8 Accrued Compensation 5.8 6.7 7.7 8.1 8.9 Total Current Liabilities 24.0 26.0 29.2 34.3 40.7 Long-term Debt 500.8 500.8 575.2 598.9 598.9 Total Liabilities 524.8 526.8 604.4 633.2 639.6 Stockholders' Equity 251.0 253.2 251.3 249.9 261.7 Total Liabilities & Stockholders' Equity 775.8 780.0 855.7 883.1 901.3 Statement of Cash Flows 2015 2016 2017 2018 2019 Net Income 22.8 7.3 1.9 6.4 21.4 Depreciation & Amortization 26.3 26.3 35.6 37.3 39.6 Chg. in Accounts Receivable 3.9 17.3 -0.1 (8.8) (5.6) Chg. in Inventory (2.9) 1.7 4.3 (5.4) (1.1) Chg. in Pay. & Accrued Comp. 3.1 2.0 3.2 5.1 6.4 Cash from Operations 53.2 54.6 44.9 34.6 60.7 Capital Expenditures (24.8) (26.5) (104.0) (74.1) (40.1) Cash from Investing Activ. (24.8) (26.5) (104.0) (74.1) (40.1) Dividends Paid (5.1) (5.1) (5.1) (5.1) (6.0) Sale (or purchase) of stock - - - - - Debt Issuance (Pay Down) - - 74.4 23.7 - Cash from Financing Activ. (5.1) (5.1) 69.3 18.6 (6.0) Change in Cash 23.3 23.0 10.2 (20.9) 14.6 Mydeco Stock Price $7.73 $2.44 $4.57 $9.06 $10.89