Use the Table for the Question(s)below

question 7

Multiple Choice

Use the table for the question(s) below.
Luther Industries had sales of $980 million and a cost of goods sold of $560 million in 2019.A simplified balance sheet for the firm appears below:
Luther Industries
Balance Sheet
As of December 31,2019
(millions of dollars)
-Luther's cash conversion cycle is closest to:

• A)51 days.
• B)66 days.
• C)71 days.
• D)129 days.

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Definitions:

Economic Gains

Increases in wealth, financial health, or resources, often measured in terms of income, profits, or value.

National Boundaries

Geographically defined borders that separate the territory of one nation-state from another.

Developing Countries

Nations with lower living standards, underdeveloped industrial bases, and low Human Development Index relative to other countries.

Economic Potential

The maximum output an economy can produce without increasing inflation, considering available resources, technology, and workforce skills.