The following information is from the 2019 financial statements of Revlon, the beauty products company. Balance Sheet Information (in million of dollars)* At December 31 2019 Accounts Receivable $ 423.4 Inventories 448.4 Accounts Payable 251.8 523.2 332.1 2018 2017 $ 431.3 $ 444.8 497.9 336.9 Income Statement Information For the year 2019 2018 2017 Sales (all credit) $2,419.6 $2,564.5 Cost of Goods Sold 1,367.4 1,4475 $2,693.7 1,541,4 Required Use Revlon's financial information to answer the following questions: a. What is Revlon's operating cycle (in days) in 2019 and 2018? Comment on the change from year to year. b. What is Revlon's cash operating cycle (in days) in 2019 and 2018? Comment on the change from year to year. c. Use Revlon's financial information to compare the components of Revlon's operating cycle and cash operating cycle to L'Oral's for 2019. The following table provides the amounts for L'Oral from worked Example 9.160 in the text. Component L'Oral 2019 Accounts receivable turnover ratio 7.40 Days sales outstanding 49.32 Inventory turnover ratio 2.81 Days inventory on hand 129.89 Accounts payable turnover ratio 1.75 Days accounts payable outstanding 208.57 Operating cycle 179.21 Cash operating cycle 29.36 Revlon 2019