Question: QUESTION 8 Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory 10,500 11,500 Accounts receivable 5,500 5,800 Accounts payable 7,700

QUESTION 8 Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory 10,500 11,500 Accounts receivable 5,500 5,800 Accounts payable 7,700 8,100 Credit sales $ 85,000 Cost of goods sold 65,000 Calculate the cash cycle. (Use 365 days a year. Do not round intermediate calculations and round your answers to

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