Consider the following financial statement information for XYZ Marketing Inc. Calculate the operating and cash cycle. Assume that year has 365 days. When you are done with your calculations, please fill in the blanks below. Round your answers based on math rules to two decimals and days to whole number (whole days).Inventory turnover is 5.71 times. Inventory period is 365 days.Receivables turnover is Blank 3 times.Receivables period is 365 days. Operating cycle is 365 days. Payables turnover is Blank 6 times.Payables period is Blank 7 days.

Fill in the Blank QuestionFill in the blank question.A company has days' sales in accounts receivable of 25 days; days' sales in inventory of 45 days, and days' payable outstanding of 50 days. The cash conversion cycle is _.

Question 8Tips2 ptsAn analyst gathers the following data for a firm:Sales: $2,500Cost of Goods Sold: $720Interest Paid: $26Net Income: $102Total Assets: $106,500Equity: $56,225Inventory: $180Accounts Receivables: $108Accounts Payables: $142Based on this information, what is the firm's Operating Cash Conversion Cycle (in days)?

Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method.Beginning inventory$15,860Ending inventory18,300Current assets73,444Current liabilities85,400Cost of goods sold203,252Sales revenue217,160(a)Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.)Inventory Turnoverenter a number of times rounded to 1 decimal place timesDays in Inventoryenter a number of days rounded to 1 decimal place days

Required informationSkip to question[The following information applies to the questions displayed below.]XYZ is a calendar-year corporation that began business on January 1, 2023. For the year, it reported the following information in its current-year audited income statement. Notes with important tax information are provided below. Use Exhibit 16-6.XYZ corporation Income statement For current year Book IncomeRevenue from sales $ 42,600,000Cost of Goods Sold (28,755,000)Gross profit $ 13,845,000   Other income:  Income from investment in corporate stock 300,0001Footnote 1Interest income 30,4002Footnote 2Capital gains (losses) (4,000)Gain or loss from disposition of fixed assets 3,0003Footnote 3Miscellaneous income 50,000Gross Income $ 14,224,400Expenses:  Compensation (7,526,000)4Footnote 4Stock option compensation (226,000)5Footnote 5Advertising (1,376,000)Repairs and Maintenance (88,000)Rent expense (35,000)Bad Debt expense (54,000)6Footnote 6Depreciation (1,725,000)7Footnote 7Warranty expenses (96,000)8Footnote 8Charitable donations (500,000)9Footnote 9Meals (38,600)Goodwill impairment (36,500)10Footnote 10Organizational expenditures (48,500)11Footnote 11Other expenses (166,000)12Footnote 12Total expenses $ (11,915,600)Income before taxes $ 2,308,800Provision for income taxes (400,000)13Footnote 13Net Income after taxes $ 1,908,800XYZ owns 30% of the outstanding Hobble Corporation (HC) stock. Hobble Corporation reported $1,000,000 of income for the year. XYZ accounted for its investment in HC under the equity method, and it recorded its pro rata share of HC's earnings for the year. HC also distributed a $200,000 dividend to XYZ. For tax purposes, HC reports the actual dividend received as income, not the pro rata share of HC's earnings.Of the $30,400 interest income, $7,600 was from a City of Seattle bond, $9,600 was from a Tacoma City bond, $8,600 was from a fully taxable corporate bond, and the remaining $4,600 was from a money market account.This gain is from equipment that XYZ purchased in February and sold in December (i.e., it does not qualify as §1231 gain).This includes total officer compensation of $2,500,000 (no one officer received more than $1,000,000 compensation).This amount is the portion of incentive stock option compensation that was expensed during the year (recipients are officers).XYZ actually wrote off $33,500 of its accounts receivable as uncollectible.Tax depreciation was $2,225,000.In the current year, XYZ did not make any actual payments on warranties it provided to customers.XYZ made $500,000 of cash contributions to charities during the yearOn July 1 of this year, XYZ acquired the assets of another business. In the process, it acquired $339,000 of goodwill. At the end of the year, XYZ wrote off $36,500 of the goodwill as impaired.XYZ expensed all of its organizational expenditures for book purposes. XYZ expensed the maximum amount of organizational expenditures allowed for tax purposes.The other expenses do not contain any items with book–tax differences.This is an estimated tax provision (federal tax expense) for the year. Assume that XYZ is not subject to state income taxes.Estimated tax information:XYZ made four equal estimated tax payments totaling $440,000 ($110,000 per quarter). For purposes of estimated tax liabilities, assume XYZ was in existence in 2022 and that in 2022 it reported a tax liability of $612,000. During 2023, XYZ determined its taxable income at the end of each of the first three quarters as follows:Quarter-end Cumulative taxable income (loss)First $ 465,000Second $ 1,165,000Third $ 1,685,000Finally, assume that XYZ is not a large corporation for purposes of estimated tax calculations.Note: Do not round intermediate calculations. Round your answers to the nearest dollar amount.

Multiple Choice QuestionThe cash conversion cycle is computed as:Multiple choice question.days' sales in accounts receivable plus days' sales in inventory minus days' payable outstandingdays' sales in accounts receivable minus days' sales in inventory times days' payable outstandingdays' sales in accounts receivable minus days' sales in inventory minus days' payable outstandingdays' sales in accounts payable plus days' sales in inventory minus days' payable outstanding