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Consider the following financial information for Applet Ltd for the year ending December 31 2022.

Items	1 January	31 December
Inventory	$6200	6620
Accounts Receivable	11 836	13 200
Accounts Payable	9 200	10 200
Other infromation
Net Sales	90 000
Cost of goods sold	55 400
Net Purchases	56 000

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)

Required:

Calculate:

i.) the firms cash conversion cycle.

ii.) the firms operating cycle.

iii.) the daily expenditure and the firms annual savings if the operating cycle is reduced by 15 days.