The following information was obtained from the Year 2 (Y2) and Year 1 (Y1) financial statements of James Company, Morris Corporation, and Zebra Company: Accounts receivable 12/31/2 12/31/Y1 12/31/Y2 12/31/Y1 12/31/Y2 12/31/Y1 12/31/Y2 12/31/Y1 Inventory $ 34,800 29,000 $ 20,500 24,100 $608,000 610,000 $202,000 166,000 Compare the three companies and answer the following: Net sales (credit) Cost of goods sold James James Morris Zebra Date (In millions) (In millions) (In millions) Morris A. Compute the number of days inventory is held before being sold for each company for Year 2. Assume that there are 365 days in a year. Round intermediate calculations and answers to one decimal place. 29.7 X days days days B. Which company appears to have the best liquidity position based solely on the inventory analysis? Morris Zebra $ 22,900 12,600 $ 11,500 31,800 $339,000 316,000 $412,000 205,000 Check My Work $ 40,500 41,600 $ 56,600 44,000 $504,000 745,000 $309,000 306,000 Next