Use the financial statements supplied here for the International Motor Corporation (IMC) to answer the following questions: a. Calculate the cash conversion cycle for IMC for both 2018 and 2019. What change has occurred, if any? All else being equal, how does this change affect IMC's need for cash? b. IMC's suppliers offer terms of net 30. Does it appear that IMC is doing a good job of managing its accounts payable? (Hint: use a 365-day year.) a. Calculate the cash conversion cycle for IMC for both 2018 and 2019. What change has occurred, if any? All else being equal, how does this change affect IMC's need for cash? The cash conversion cycle (CCC) for 2018 is days. (Round to one decimal place.) The cash conversion cycle (CCC) for 2019 is days. (Round to one decimal place.) (Choose from the drop-down menus.) What change has occurred in the cash conversion cycle, if any? All else being equal, how does this change affect IMC's need for cash? payable? (Choose the b. IMC's suppliers offer terms of net 30. Does it appear that IMC is best response below.) The cash cycle has not changed A. The firm should be paying after 30 days, if there is no pen hand. The cash cycle has increased B. The firm should be paying within 10 days. O C. The firm is paying too early; it could be earning interest on The cash cycle has decreased OD. The firm is paving when it should be. What change has occurred in the cash conversion cycle, if any? All else being equal, how does this change affect IMC's need for cash? b. IMC's suppliers offer terms of net 30. I best response below.) ging its accounts payable? (Choose the It does not change the need for cash A. The firm should be paying after 3 dditional cash on hand. B. The firm should be paying within It increases the amount of cash needed C. The firm is paying too early; it coi OD. The firm is paving when it should It decreases the amount of cash needed b. IMC's suppliers offer terms of net 30. Does it appear that IMC is doing a good job of managing its accounts payable?(Choose the best response below.) A. The firm should be paying after 30 days, if there is no penalty, to take advantage of additional cash on hand. B. The firm should be paying within 10 days. C. The firm is paying too early; it could be earning interest on its money. OD. The firm is paying when it should be. INTERNATIONAL MOTOR CORPORATION INCOME STATEMENT (in $ millions) for the years ending December 31 2018 60000 52000 8000 6000 Sales (-) Cost of goods sold Gross profit (-) Selling and general and administrative expenses Operating profit (-) Interest expense Earnings before tax (-) Taxes Earnings after tax 2019 75000 61000 14000 8000 6000 1300 4700 2350 2000 1400 600 300 300 2350 Use the financial statements supplied here for the International Motor Corporation (IMC) to answer the following questions: a. Calculate the cash conversion cycle for IMC for both 2018 and 2019. What change has occurred, if any? All else being equal, how does this change affect IMC's need for cash? b. IMC's suppliers offer terms of net 30. Does it appear that IMC is doing a good job of managing its accounts payable? (Hint: use a 365-day year.) a. Calculate the cash conversion cycle for IMC for both 2018 and 2019. What change has occurred, if any? All else being equal, how does this change affect IMC's need for cash? The cash conversion cycle (CCC) for 2018 is days. (Round to one decimal place.) The cash conversion cycle (CCC) for 2019 is days. (Round to one decimal place.) (Choose from the drop-down menus.) What change has occurred in the cash conversion cycle, if any? All else being equal, how does this change affect IMC's need for cash? payable? (Choose the b. IMC's suppliers offer terms of net 30. Does it appear that IMC is best response below.) The cash cycle has not changed A. The firm should be paying after 30 days, if there is no pen hand. The cash cycle has increased B. The firm should be paying within 10 days. O C. The firm is paying too early; it could be earning interest on The cash cycle has decreased OD. The firm is paving when it should be. What change has occurred in the cash conversion cycle, if any? All else being equal, how does this change affect IMC's need for cash? b. IMC's suppliers offer terms of net 30. I best response below.) ging its accounts payable? (Choose the It does not change the need for cash A. The firm should be paying after 3 dditional cash on hand. B. The firm should be paying within It increases the amount of cash needed C. The firm is paying too early; it coi OD. The firm is paving when it should It decreases the amount of cash needed b. IMC's suppliers offer terms of net 30. Does it appear that IMC is doing a good job of managing its accounts payable?(Choose the best response below.) A. The firm should be paying after 30 days, if there is no penalty, to take advantage of additional cash on hand. B. The firm should be paying within 10 days. C. The firm is paying too early; it could be earning interest on its money. OD. The firm is paying when it should be. INTERNATIONAL MOTOR CORPORATION INCOME STATEMENT (in $ millions) for the years ending December 31 2018 60000 52000 8000 6000 Sales (-) Cost of goods sold Gross profit (-) Selling and general and administrative expenses Operating profit (-) Interest expense Earnings before tax (-) Taxes Earnings after tax 2019 75000 61000 14000 8000 6000 1300 4700 2350 2000 1400 600 300 300 2350