$14-5$ Sue$$o Sheets is assessing its working capital position. Sue$$o$\text{'}$s accounts receivable

turnover normally is $20$ times, its inventory turnover is $12,$ and its accounts payable

turnover is $24$ times. This year, the company expects its cost of goods sold, which equal

$75$ percent of sales, to be $$600,000.$ Calculate

$($a$)$ the cash conversion cycle and

$($b$)$ the average balances in accounts receivable, accounts payable, and inventory.

$($L$014-2)$