Two years of financial statement data for the Munich Export Corporation are shown below. MUNICH EXPORTS CORPORATION Balance Sheet Cash Accounts Receivables Inventories Total Current Assets Fixed Assets, Net Total Assets 2015 $50,000 200,000 450,000 700,000 300,000 $1,000,000 2016 $50,000 300,000 570,000 920,000 380,000 $1,300,000 Accounts Payable Accruals Bank Loan Total Current Liabilities Long Term Debt Common Stock (8.05 par) Additional Paid-in-Capital Retained Earnings Total Liab & Equity 130,000 50.000 90.000 270,000 400,000 50.000 200,000 80.000 $1,000,000 $180,000 70,000 90,000 340,000 550.000 50,000 200,000 160,000 $1,300,000 Income Statement Net Sales Cost of Goods Sold Gross Profit Marketing General & Administrative Depreciation EBIT Interest Earings Before Taxes Income Taxes (40% tal Net Income 2015 $1,300,000 780,000 520,000 130,000 150,000 40,000 200,000 45.000 155,000 62.000 $93,000 2016 $1,600,000 960,000 640,000 160,000 150,000 55.000 275,000 55.000 220,000 88.000 $132,000 4. Calculate the inventory-to-sale conversion period for 2016. B. Calculate the sale-to-cash conversion period for 2016. C Calculate the purchase-to-payment conversion period for 2016 D. Calculate the length of Munich Exports' cash conversion cycle for 2016