discuss Extract from the recent financial statements of Gerhana Berhad are shown below.

Income statement as at ${31}^{st}$ December $2023$

Statement of Financial Position as at ${31}^{st}$ December $2023$

All sales purchases were on credit Gerhana Berhad has no long$-$term debt.

a$.$ Calculate the operating cycle and the cash conversion cycle of Gerhana Berhad for the

year $2023$ and $2024.$

$(14$ Marks$)$

b$.$ Discuss the four stages of accounts receivable life cycle.

$(12$ Marks$)$