16. From the following information provided by P Ltd., compute the Working Capital requirement:

(i) Expected annual sales: `3,60,000

(ii) Cost of raw materials: 50% of sales

(iii) Expenses: 30% of sales

(iv) Profit: 20% of sales

(v) Credit allowed to debtors: 2½ months

(vi) Credit allowed by creditors: 1½ months

(vii) Raw materials in store: 1 month

(viii) Processing period: 2 months

(ix) Finished goods in store: 4 months

(x) Cash in hand: `6,000

(xi) Bank Overdraft: `1,00,000

(xii) Production is carried on evenly during the year and expenses accrue in the same way.