The Smith 2021 income statement and balance sheet follows. (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) (Click the icon to view the income statement) Read the requirements. Requirements a. Use the income state Begin by selecting the f decimal places, X.XX.) Use the income statement and the balance sheet to calculate the following: a. Smith's rate of inventory turnover and days' inventory outstanding for 2021. b. Days' sales in average receivables (days' sales outstanding) during 2021 (round dollar amounts to one decimal place). Assume all sales are made on account. c. Accounts payable turnover and days' payables outstanding for 2021. For this purpose, assume that the impact of inventories on cost of goods sold is immaterial, allowing you to use cost of goods sold rather than purchases in your computations. d. Length of cash conversion cycle in days for 2021. Do these measures look strong or weak? Give the reason for your answer. hg for 2021. s given in the question. Round the inventory turnover to th Data table 21. the question. Round the inventory turnover to th Data table ncome statement and balance sheet follows. n to vi Data table