Using XYZ Company's income statements and balance sheets below, compute the company's cash conversation cycle (CCC).

	2015	2014
Assets
Cash	$ 85,632	$ 84,530
Accounts receivable	878,000	778,000
Inventories	1,716,480	1,820,330
Total current assets	$ 2,680,112	$ 2, 682,860
Gross fixed assets	1,197,160	1,197,160
Less accumulated depreciation	380,120	390,255
Net fixed assets	$ 817,040	$ 806,905
Total assets	$ 3,497,152	$ 2,690,930
Liabilities and Equity
Accounts payable	$ 436,800	$ 525,700
Accruals	408,000	395,000
Notes payable	300,000	300,000
Total current liabilities	$ 1,144,800	1,220,700
Long-term debt	400,000	400,000
Common stock	1,721,176	1,721,176
Retained earnings	231,176	281,280
Total equity	$ 1,952,352	$ 2,002,456
Total liabilities and equity	$ 3,497,152	$3,623,156

	2015	2014
Sales	$ 8,035,600	$ 7,860,500
Cost of goods sold	6,875,992	6,223,480
Other expenses	550,000	425,650
Total operating costs excluding deprec. & amort.	$ 7,425,992	$ 6,649,130
EBITDA	$ 609,608	$ 1,211,370
Deprec. & amort.	115,960	135,870
Operating income (EBIT)	$ 493,648	$ 1,075,500
Interest expense	71,008	98,002
Earnings before taxes	$ 422,640	$ 977,498
Taxes (40%)	169,056	390,999
Net income	$ 253,584	$ 586,499
EPS	$ 1.014	$ 2.346
DPS	$ 0.220	$ 0.220
Book value per share	$ 7.809	$ 8.009
Stock price	$ 12.17	$ 14.02
Shares outstanding	250,000	250,000
Tax rate	40.00%	40.00%
Lease payments	30,000	35,000