The CFO of Vandalay Industries is concerned about liquidity. Which of the following actions should he take if he wants to reduce its cash conversion cycle?

Group of answer choices

1.) Increase average inventory without increasing sales.

2.) Sell an issue of long-term bonds and use the proceeds to buy back some of its common stock.

3.) Take steps to reduce the Day Sales Outstanding.

4.) Start paying its bills sooner, which would reduce the average accounts payable but not effect sales.