6. Explain each variable in the cash conversion cycle formula and use it to calculate it for the given company's data below. Assume a 365-day year. Do not round intermediate calculations and round to the nearest whole day. (10 pts) $45,000,0 Annual sales 00 Annual cost of goods sold = $22,500,0 00 Inventory $4,500,00 0 Accounts receivable = $1,800,00 0 Accounts payable= $2,500,00 0 Last year's sales $350 Last yr's accounts payable $40 Sales growth rate 30% Last yr's notes payable $50 Last year's total assets $360 1 Last yr's accruals $30 Last year's prof margin 5% Target payout ratio 60%