Use the financial statements below to calculate the firm's Cash Conversion Cycle be sure to use purchases (not COGS) for the AP Deferral calculation. You must type in both the answer and all of your work to receive credit. Be sure to use 4 decimal places where applicable (25.25% or 0.2525). Acme Products, Inc. Acme Products, Inc. Balance Sheets Income Statement prior ASSETS Cash current yr current yr yr 500 400 Sales (all credit) 7,500 Receivables 750 600 Cost of Goods Sold 3,500 Inventory 1,125 900 Gross Profit 4,000 Property, plant & equipment 2,750 2,200 Operating expenses 1,400 Total assets 5,125 4,100 Depreciation 400 Opertating income 2,200 LIABILITIES & EQUITY Interest expense 100 Accounts payables 625 500 Taxable income 2,100 Accrued expenses 500 400 Taxes (25%) 525 Long-term debt 1,750 1,400 Net income 1,575 Common stock 750 600 Paid-in Capital 250 200 Retained earnings 1,250 1,000 Total liabilities and equity 5,125 4,100