Use the Gagnon 2016 income statement that follows and the balance sheet from SI3-6 to compute the following:
a. Gagnon, Inc.'s, rate of inventory turnover and days' inventory outstanding for 2016.

b. Days' sales in average receivables (days' sales outstanding) during 2016 (round dollar amounts to one decimal place). Assume all sales are made on account.
c. Accounts payable turnover and days' payables outstanding for 2016. 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 2016.
Do these measures look strong or weak? Give the reason for yoru answer.

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Gagnon, Inc. Statements of Income (Adapted) Year Ended December 31, 2016 and 2015 2015 (Dollar amounts in millions) Revenues Expenses: 2016 9,5059309 Food and paper (Cost of goods sold) Payroll and employee benefits Occupancy and other operating expenses General and administrative expenses Interest expense Other expense (income), net 2,634 2,4431135 2,519 2,169 7462,241 1,2072,745 194 21 952 387 147 (35) 442 269 Income before income taxes Income tax expense Net income