Question 1 of 10
Maintain corporate liquidity required to meet current and future obligations in a timely and cost effective manner
Aldridge Kitchenware — summarized financial statements, fiscal year just ended ($ thousands)| Income statement | Amount | Balance sheet (year-end) | Amount |
|---|
| Sales (all on credit) | $73,000 | Cash | $2,500 |
| Cost of goods sold | $54,750 | Marketable securities | $1,500 |
| Operating expenses | $13,050 | Accounts receivable | $9,000 |
| Interest expense | $500 | Inventory | $10,500 |
| Income taxes | $1,050 | Prepaid expenses | $500 |
| Net income | $3,650 | Total current assets | $24,000 |
| | Accounts payable | $6,000 |
| | Accrued liabilities | $3,000 |
| | Short-term bank debt | $5,000 |
| | Total current liabilities | $14,000 |
Using the Aldridge Kitchenware statements, what is the company's cash conversion cycle? Round to the nearest 0.1 day.