2. Operating Cycle. Selected information for 2017 for the Premium Company is as follows: Cost of Good Sold Average Inventory Net Sales Average Receivables Net Income P S,400,000 1,800,000 7,200,000 960,000 720,000 a. What is the Accounts Receivable Turnover? b. Assuming a Business year consiting of 360 da c. What is the Inventory Turnover? d. Assuming a Business year consiting of 360 days, what is the average number of days of inventory? e. Assuming a Business year consiting of 360 days, how many days is the operating cycle? ys, what is the average collection period