Question: Taimi's balance sheet and income statement are reported below. Using the information in the two tables, answer the following questions. Balance Sheet Assets Liabilities &

 Taimi's balance sheet and income statement are reported below. Using the

Taimi's balance sheet and income statement are reported below. Using the information in the two tables, answer the following questions. Balance Sheet Assets Liabilities & Shareholders' Equity Cash $150 Accounts Payable $210 Accounts $260 Other Current Liabilities $200 Receivable Inventories $190 Fixed Assets $400 Long-term Liabilities $80 Shareholders' Equity $510 Total Assets $1,000 Total Liabilities and Equity $1,000 Income Statement Net Sales Cost of sales General & Admin. Expenses EBIT $1,700 $1,150 $350 $200 Net Income $130 a) What is Taimi's length of operating cycle in days? [5 points) b) What is Taimi's length of cash conversion cycle in days? [5 points]

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