Use the attached financial statements to evaluate the firm's the management of inventory, accounts receivable, and accounts payable. Based on the turnovers and days ratios, did YOLO's working capital management improve from 2017 to 2018? (10 points) YOLO, Inc. Income Statement For Year Ending Dec 31, 2018 Revenues COGS Gross profit Operating Expenses Depreciation expense EBIT Interest expense 2017 4.000 2.900 1.100 200 2018 4.200 3.000 1,200 275 200 V EBT Taxes (40%) Net Income 650 260 390 2017 2018 YOLO, Inc. Balance Sheets Dec 31, 2017 & 2017 Assets Current Assets Cash A/R Inventory Total Net Fixes Assets Total Assets 230 480 560 1,270 2,000 3,270 250 525 840 1,615 2,185 3,800 Liabilities and Owners Equity Current Liabilities A/P Accruals 336 126 tes payable 320 120 65 505 585 200 662 553 Total Long-term debt Common Equity Common Stock Retained Earnings 1,785 395 1,800 785 Total Liabilities and Owner's Equity 3,270 3,800 PV = (1 + (365 ) AR Turnover Revenues 365 DSO - AR Turnover Inventory Turnover COGS Inventory 365 Inventory Turnover AP Turnover 365 DPO = AP Turnover -- VCR(S) NPV = __ S - EXP(S) [1 +265)(CP)] NPV perpaDailyNPV 365 E0Q = 2( DOC) TGNV = (00) []+cH0 (9) HC Avg Inventory = 10 = (1+2) (603452) PV= Invoice Price(1-d) [1+ (365)