Using an EXCEL spreadsheet, determine the Cash Conversion Cycle for 2011.Logically and neatly, show your work steps, and highlight in yellow the cell containing your answer

Carmax, Inc. Income Statement Years Ended February 28, 2011 and February 20, 2010 [in millions) 2011 2010 Net sales $8.976 $7.470 Cost of goods sold 7.674 6,371 Gross margin $1.302 $1,099 Selling and administrative expenses 905 419 Operating income $ 397 S 280 Interest expense Other income (expenses; net) 220 176 Income before taxes 5 614 453 Income tax expense 233 171 Net income $ 381 $ 282 Carmax, Inc. Balance Sheet February 28, 2011 and February 20, 2010 [in millions) 2011 2010 Assets Current assets Cash and cash equivalents S 18 Accounts receivable (net) 120 682 Merchandise inventory 1.049 843 Other current assets 13 Total current assets $1,410 $ 1,556 Noncurrent assets Property, plant and equipment (net) 920 894 Other assets 4,510 Total assets 106 $6,840 $ 2,556 Liabilities and shareholders' equity Current liabilities Accounts payable and other Mabilities Short-term debt $ 373 S 348 Income taxes payable and deferred taxes 134 123 Total current liabilities Noncurrent liabilities 508 5 477 Long-term debt Other liabilities 3.909 27 Shareholders'equity 131 118 Common stock Retained earnings 934 858 Total Habilities and shareholders equity 1.358 1,076 $6.840 $ 2,556 Saylor URL: http:/www.saylor org/hooks