5. Cash conversion cycle Cash management is a very important function of managers. Companies need to manage their operations in a way that they can sustain growth and yet not run out of cash. Consider the case of Black Sheep Broadcasting Company's: Black Sheep Broadcasting Company's is a mature firm that has a stable flow of business. The following data was taken from its financial statements last year: Black Sheep Broadcasting's CFO is interested in determining the length of time funds are tied up in working capital, Use the information in the preceding table to answer the following questions. (Note: Use 365 days as the length of a year in all calculations, and round all values to two decimal places.) What is the inventory conversion period? 148.56 days 33.07 days 42.53 days 40.16 days What is the average collection period? 26.01 days 20.54 days 80.68 days 24.64 days What is the payable deferrals period? 40.25 days 133.19 days 44.49 days 33.90 days What is the cash conversion cycle? 27.42 days 96.05 days 35.49 days 33.87 days