In a recent meeting, the Globochem financial management team acknowledged that it has been taking longer for it to clear goods from inventory than the industry leader.Additionally, a question regarding their average collections time and whether it could be improved was asked.Note that the industry leader's inventory turnover was $9$X for the same time period and accounts receivable turnover was$15$X$.$ Globochem's staff noted that both they and the industry leader always pay vendors$/$suppliers in $30$ days by policy.Using Globochem's financial statements in the previous questions:Calculate the inventory turnover for $2023.$ Likewise, calculate its accounts receivable turnover for $2023.$Calculate both the operating cycle and the cash conversion cycle for $2023.$ You must provide specific values for each component in your answer.If management implements a working capital policy given your answers for Part $1$ by targeting to reach the industry leader's level of performance, provide the specific dollar amount for inventory and accounts receivables if Globochem is able to maintain the same level of sales.Conceptually, what should happen to Globochem's OCA, TNOC, ROIC, and ROA if they acheive the industry leader's targets? Be sure to address each item specifically in a brief statement. Search