Use the Allstott 2012 income statement that follows and the balance sheet from Short Exercise 13-6 to compute the following:

a. Allstott€™s rate of inventory turnover and days inventory outstanding for 2012
b. Days€™ sales in average receivables (days sales outstanding) during 2012 (Round dollar amounts to one decimal place.)
c. Accounts payable turnover and days payables outstanding
d. Length of cash conversion cycle in days Do these measures look strong or weak? Give the reason for youranswer.

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Allstott, Inc. Statements of Income (Adapted) Year Ended December 31, 2012 and 2011 Dollar amounts in millions Revenues Expenses: 2012 2011 S9,500 $9,309 2,509 2,644 Food and paper (Cost of goods sold) Payroll and employee benefits 2,211 Occupancy and other operating expenses2,4132,375 1,148 2,138 General and administrative expenses Interest expense Other expense (income), net 1,217 184 19 1,020 285 S 735 (34) Income before income taxes Income tax expense Net income 848 267 S 581