Calculate cash conversion cycle for 2020 ( For balance items, use the average of the two years)

Balance Sheet 2019 2020

Cash $50,000 $50,000

Accounts Receivables 200,000 290,000

Inventories 450,000 550,000

Accounts Payable 130,000 140,000

Accruals 50,000 80,000

Long-term Debt 400,000 540,000

Income Statement 2019 2020

Net Sales $1,300,000 $1,700,000

Cost of Goods Sold 770,000 910,000

Depreciation 40,000 55,000

Interest 45,000 65,000

Net Income 99,000 204,000