You are a finance manager for Serai Sdn. Bhd., a company that manufactures floor tiles. You are provided with the following information of the company: Receivables Payables Inventories Annual credit sales Cost of goods is 60% on sales a. 2020 $ 90,000 b. 40,000 35,000 2021 $ 75,000 Required: Make use of the information above, calculate the cash conversion cycle, to the nearest day. 30,000 25,000 500,000 (15 marks) Explain the implications of your answer in part (a)(i) above and recommend the ways which the company can use to shorten the cash conversion cycle. (10 marks)