$[$Cash Conversion Cycle$]$ Two years of financial statement data for the Munich Export Corporation are shown below.

A$.$ Calculate the inventory$-$to$-$sale, sale$-$to$-$cash, and purchase$-$to$-$payment conversion periods for Munich Exports for $2019.$

B$.$ Calculate the length of Munich Exports$$ cash conversion cycle for $2019.$

BALANCE SHEET $20182019$ Cash $ $50,000$ $ $50,000$ Accounts receivable $200,000300,000$ Inventories $450,000570,000$ Total current assets $700,000920,000$ Fixed assets, net $300,000380,000$ Total assets $$1,000,000$ $$1,300,000$ Accounts payable $ $130,000$ $ $180,000$ Accruals $50,00070,000$ Bank loan $90,00090,000$ Total current liabilities $270,000340,000$ Long$-$term debt $400,000550,000$ Common stock $($$$0\mathrm{.}50$ par$)50,00050,000$ Additional paid$-$in$-$capital $200,000200,000$ Retained earnings $80,000160,000$ Total liabilities and equity $$1,000,000$ $$1,300,000$ INCOME STATEMENT $20182019$ Net sales $$1,300,000$ $$1,600,000$ Cost of goods sold $780,000960,000$ Gross profit $520,000640,000$ Marketing $130,000160,000$ General and administrative $150,000150,000$ Depreciation $40,00055,000$ EBIT $200,000275,000$ Interest $45,00055,000$ Earnings before taxes $155,000220,000$ Income taxes $(40\%$ rate$)62,00088,000$ Net income $ $93,000$ $ $132,000$

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