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a. b. C. d. e. 14.37 Morgan Sports Company just reported the following financial information. Morgan Sports Equipment Company ASSETS Cash Accounts Receivable Inventories Total current assets Net sales Cost of goods sold $ $ $ $ $ $ a. Calculate the firm's days' sales outstanding. b. What is the firm's days' sales in inventory? c. What is the firm's days' payables outstanding? LIABILITIES AND EQUITY 677,423 Accounts payable 1,845,113 Notes payable 1,312,478 3,835,014 Total current liabilities 9,912,332 5,947,399 d. What is the firm's operating cycle? How does it compare with the industry average of 72 days? e. What is the firm's cash conversion cycle? How does it compare with the industry average of 42 days? Days' sales outstanding (DSO) = Days' sales in inventory (DSI) = Days' payables outstanding (DPO) = Firm's operating cycle = Cash convesrion cycle = days days days days = DSO + DSI days = DSO + DSI-DPO $ $ $ Comment 1,721,669 2,113,345 3,835,014