Click here to read the book The Cash Conversion de Problem Walk-Through CASH CONVERSION CYCLE Partamore Corp has $12 million of sales, $3 million of inventories, 34 million of receivables, and $1 milion of payables. Its cost of goods sold is 75% of sales, and it finances working capital with bank loans at an rate. Assume 365 days in year for your calculations. Do not round Intermediate steps 1. What is Parramore's cash conversion cyce (CCC)? Do not round Intermediate calculations. Round your answer to two decimal places, days 2. Parramore could lower its invertortes and receivables by seach and increase ts payablet by all without affecting sales or cost of goods sold, what would be the new CCC Do not round Intermediate calculations. Round your answer to two decimal places days 3. How much cash would be freed up, If Parramore could lower its inventories and receivables by each and increase its payables by all without affecting sales of cost of goods sold? Do not round intermediate calculation Round your answer to the nearest cent. Write out your answer competely. For txample, 13.2 million should be entered a 13,200,000 4. Hy how much would pretex profits chang. Paramore could lower tu vetores and receivables by each and increase its payables by, all without affecting sales or cost of goods sold Do not round Intermediate calculations. Round your answer to the nearest cent. Write out your answer completely. For example, 13.2 milion should be entered as 12,200,000