Please solve all parts by hand:

4. Supreme Brands, Inc. wishes to analyze the joint impact of its working capital investment and financing policies on shareholder risk and return. The company has $40 million in fixed assets. Also, the firm's financial structure consists of short-term debt, long-term debt and common equity. Supreme wishes to maintain a debt-to-total assets ratio of 50 percent, where debt consists of both short-term and long-term sources. The company's tax rate is 25 percent. The following information was developed for three different policies under consideration (all dollar values are in millions): 36 WC Investment and Financing Investment in Amount of Projected Interest Rate Policy Current Assets STD Sales EBIT LTD(%) STD(%) Aggressive (A) $56 $48 $118 $14.2 7.5 4.5 Moderate (M) 60 120 14.4 7.0 4.0 Conservative (C) 64 24 122 14.6 6.5 3.5 a. What is the level of total assets for each working capital plan? (Answer for A = $96 million) b. Determine the following for each of the three working capital investment and financing policies: i. The total interest expense (both STD & LTD) ii. Net income after taxes iii. Total asset turnover iv. Operating ROA v. Expected rate of return on stockholders' equity vi. Net working capital vii. Current ratio c. Which policy is most profitable? Why