Use the data for Seacrest Services from exercise 11-15A.
In 11-15A. The income statement and additional data of Seacrest Services, Inc., follow:

Requirements
1. Calculate the cash conversion cycle for Seacrest Services. Round all calculations to two decimal places. Assume all sales on credit.
2. Comment on Seacrest Services€™ cash conversion cycle assuming that it was 75.64 days for the prioryear.

Transcribed Image Text:

Seacrest Services, Inc Income Statement Year Ended September 30, 2012 Revenues: Sales Revenue Dividend Revenue $304,000 7.000 Total Revenues $311,000 Expenses: Cost of Goods Sold Salaries Expense Depreciation Expense Advertising Expense Interest Expense Income Tax Expense $100,000 55,000 20,000 9,000 1,000 13,000 Total Expenses 198,000 $113,000 Net Income