Step TWO: Calculations Part 1: Financial Calculations The following financial calculations were covered in the competency content. Calculate the following seven problems showing formulas for the ratio as well as the answer. Use the provided Calculation worksheet to include the calculations, computation details (showing your work), and answers. Problem #7 - Working Capital and the Cash Conversion Cycle a) Given the following information: inventory = $20,000, Daily cost of sales = $1,000, Receivables - $12,000, daily revenue - $4,000, payables = $8,000, daily purchases 800, calculate 1) Inventory conversion period 2) Receivables conversion period 3) Payables conversion period 4) Cash conversion period