The Butler-Huron Companys balance sheet and income statement for last year are as follows:

Balance Sheet (in Millions of Dollars)
Assets			Liabilities and Equity
Cash and marketable securities	$113		Accounts payable***	$1,259
Accounts receivable*	1,177		Accrued liabilities
Inventories**	1,520		(salaries and benefits)	690
Other current assets	38		Other current liabilities	262
Total current assets	$2,848		Total current liabilities	$2,211
Plant and equipment (net)	3,620		Long-term debt and other
Other assets	6,509		liabilities	2,704
Total assets	$6,509		Common stock	88
			Retained earnings	1,506
			Total stockholders equity	$1,594
			Total liabilities and equity	$6,509
*Assume that all sales are credit sales and that average accounts receivable are the same
as ending accounts receivable.
**Assume that average inventory over the year was the same as ending inventory.
***Assume that average accounts payable are the same as ending accounts payable.

Income Statement (in Millions of Dollars)
Net sales	$12,655
Cost of sales	9,040
Selling, general, and administrative expenses	2,217
Other expenses	886
Total expenses	$12,143
Earnings before taxes	512
Taxes	205
Earnings after taxes (net income)	$307

Assume that there are 365 days per year.

Determine Butler-Hurons cash conversion cycle. Round intermediate calculations and answer to one decimal place.

days

Determine Butler-Hurons cash conversion cycle assuming that 65 percent of annual sales are credit sales (that is, 35% represent cash sales). Round intermediate calculations and answer to one decimal place.

days

Determine Butler-Hurons cash conversion cycle assuming that 45 percent of annual sales are credit sales. Round intermediate calculations and answer to one decimal place.

days