Use the data for Consolidated Services from E11-15A.

Requirements
1. Calculate the cash conversion cycle for Consolidated Services. Round all calculations to two decimal places. Assume all sales are on credit.
2. Comment on Consolidated Services’ cash conversion cycle assuming it was 92.45 days for the prior year.

Consolidated Services, Inc. Income Statement Year Ended November 30, 2016 Revenues: Sales Revenue $304,000 Dividend Revenue 11,000 Total Revenues $315,000 Expenses: Cost of Goods Sold $103,000 Salaries Expense Depreciation Expense Advertising Expense Interest Expense Income Tax Expense Total Expenses 55,000 28,000 16,000 6,000 9,000 217,000 $ 98,000 Net Income