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Calculate the operating cash cycle to the nearest 0.1 day, given the information below
Income statement $ millions
Sales 25.00
Cost of sales 16.25
Operating expenses 7.05
Tax 0.51
Net profit 1.19
Balance sheet $ millions $ millions
Cash 1.00 Account payable 1.3
Accounts receivable 1.5 bank overdraft 0.7
Inventory 0.65 Tot. current liabilities 2.00
Tot. Current assets 3.15 Noncurrent liabilities 2.5
Noncurrent assets 6.5 Shareholders' equity 5.15
Tot. Assets 9.65 Tot. liabilities and equity 9.65
Hint: the inventory holding period is 14.6 days.
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