Font The company Mickey Mouse co-founded last year is rapidly growing but has not achieved profitability yet. Many experts are saying Mickey's company could do an IPO in the next two years. The additional capital that an IPO could raise would let Mickey hire the brightest people in the industry and continue to innovate with new product research. There is one glitch: Mickey and the rest of the executive team have been so focused on launching the business that they have not paid much attention to financial control. The company had plenty of funds from venture capitalists and early sales, so working capital has not been a problem. However, an experienced CEO told Mickey that his company will not have a successful IPO unless he cleans up the financial side of his business. Mickey's co-founders say they are too busy and will hire a seasoned financial executive right before the IPO. 1.Should Mickey focus now on hiring a seasoned financial executive now or wait to do so right before the IPO? Yes, or no? When answering, explain what financial management is. Explain your answer in detail. 2.Mickey and his executive team are considering an IPO, but they could issue corporate bonds to raise funds as well. Would it be wise for Mickey and his team to attempt to issue bonds as a way of expanding its working capital versus doing an IPO? When explaining your answer, include the importance of understanding discretionary equity financing and non-discretionary debt financing. Explain your answer in detail. 3.Why is it important for Mickey's company to carefully manage accounts receivable and accounts payable to ensure positive cash flow? Explain your answer in detail. 4.Explain where Mickey and his executive team fall on the Management Pyramid. When tinate Focus B