Use below inputs for questions from 9-12. CASTILLO PRODUCTS COMPANY
INCOME STATEMENT		2018	2019
Net sales		$900,000	$1,200,000
Cost of goods sold		540,000	700,000
Gross profit		360,000	600,000
Marketing		90,000	150,000
General and administrative		250,000	250,000
Depreciation		40,000	40,000
EBIT		20,000	160,000
Interest		45,000	60,000
Earnings before taxes		65,000	100,000
Income taxes		0	25,000
Net income (loss)		$65,000	$ 75,000
BALANCE SHEET	2018			2019
Cash	$ 50,000			$ 20,000
Accounts receivable	200,000			280,000
Inventories	400,000			500,000
Total current assets	650,000			800,000
Gross fixed assets	450,000			540,000
Accumulated depreciation	100,000			140,000
Net fixed assets	350,000			400,000
Total assets	$1,000,000			$1,200,000
Accounts payable	$ 130,000			$160,000
Accruals	50,000			70,000
Bank loan	90,000			100,000
Total current liabilities	270,000			330,000
Long-term debt	300,000			400,000
Common stock (0.05 par)	150,000			150,000
Additional paid-in-capital	200,000			200,000
Retained earnings	80,000			120,000
Total liabilities and equity	$1,000,000			$1,200,000

Calculate the inventory-to-sale conversion period for 2019. Use one decimal places.

Question 10 (0.25 points)

Retake question

Question 10 options:

Calculate the sale-to-cash conversion period for 2019. Round by one decimal place.

Question 11 (0.25 points)

Retake question

Question 11 options:

Calculate the purchase-to-payment conversion period for 2019. Round by one decimal place.

Question 12 (0.25 points)

Retake question

Question 12 options:

Determine the length of the Castillo Products cash conversion cycle for 2019. Round by one decimal place.