d. (6 pts) Tata Corporation's Balance Sheet and Income Statement, as shown below: BALANCE SHEET (in thousands of dollars) ASSETS 2011 2010 Current Assets NET INCOME Cash S21,113 $19,930 (in thousands of dollars) Receivables 7,336 3,275 2011 2010 Inventories 25,135 24.270 Total $53,584 S47,475 Net Sales $113,260 $96,695 Cost of Goods Sold 75,586 65,039 Fixed Assets 25. 767 19.720 30,998 Other Operating Expenses 26,208 S79,351 Total Assets S67,195 Operating Profit $ 6,676 $5,448 LIABILITIES 2011 2010 Current Liabilities Other Income 7,061 6,280 Accounts Payable $9,493 $7,273 Interest 658 520 Notes Payable 429 416 Other 3.990 3,924 3,362 Total S13,912 S10,869 Net Profit $ 9,155 Long-term Liabilities $ 7.846 7,796 6,088 Stockholder's Equity 57.643 $441 Dividends 50.238 S460 Total Liability and Equity $79,351 567,195 Retained Earnings $ 8,695 $ 7,405 3.180 Tax I. (4 pts) Calculate TATA Corporation's operating cycle and cash cycle for 2011. II. (2 Pts) Provide a financial explanation for this cash cycle. d. (6 pts) Tata Corporation's Balance Sheet and Income Statement, as shown below: BALANCE SHEET (in thousands of dollars) ASSETS 2011 2010 Current Assets NET INCOME Cash S21,113 $19,930 (in thousands of dollars) Receivables 7,336 3,275 2011 2010 Inventories 25,135 24.270 Total $53,584 S47,475 Net Sales $113,260 $96,695 Cost of Goods Sold 75,586 65,039 Fixed Assets 25. 767 19.720 30,998 Other Operating Expenses 26,208 S79,351 Total Assets S67,195 Operating Profit $ 6,676 $5,448 LIABILITIES 2011 2010 Current Liabilities Other Income 7,061 6,280 Accounts Payable $9,493 $7,273 Interest 658 520 Notes Payable 429 416 Other 3.990 3,924 3,362 Total S13,912 S10,869 Net Profit $ 9,155 Long-term Liabilities $ 7.846 7,796 6,088 Stockholder's Equity 57.643 $441 Dividends 50.238 S460 Total Liability and Equity $79,351 567,195 Retained Earnings $ 8,695 $ 7,405 3.180 Tax I. (4 pts) Calculate TATA Corporation's operating cycle and cash cycle for 2011. II. (2 Pts) Provide a financial explanation for this cash cycle