Use the income statement and the balance sheet to calculate the following:a$.$ Colvin's rate of inventory turnover and days' inventory outstanding for $2021.$b$.$ Days sales in average receivables $($days$\text{'}$ 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.

A$.$Use the income statement and the balance sheet to calculate Colvins rate of inventory turnover and days inventory outstanding for $2021.$ begin by selecting the formula and then enter the amounts to calculate inventory turnover. $($Enter currency amounts in millions as given in the question. Round the inventory turnover to two decimal places, X$.$XX$)$