Presented below are a set of financial ratios provided for Recharge Ltd. The company manufactures cycle components to put on racing cycles. 2017 2018 2019 2020 2021 Return on Assets 15% 16% 14% 12% 10% Return on Equity 24% 28% 30% 32% 33% Debt to Assets 50% 60% 65% 70% 85% Days payables outstanding 15 days 16 days 17 days 17 days 17 days Days sales outstanding 43 days 42 days 43 days 50 days 70 days Inventory turnover (days) 25 days 20 days 30 days 12 days 10 days Further notes: -The credit terms for the company's purchases are 30 days. -The credit terms offered by the company are 40 days. - The tax rate is 30%. d) Based on the above information, indicate which of the following statements is most correct by placing the number 1 The cash cycle is the least efficient in 2020 2 The cash cycle is the least efficient in 2021 34 3 The cash cycle in 2017 is 46 days 4 The cash cycle 2020 is less efficient than in 2018 e) Based on the above information, indicate which of the following statements is most correct by placing the number in the m 1 The company is efficiently managing its payments 2 4 34 The company could improve its payment efficiency by decreasing the amount of days it takes to pay suppliers The company could improve its payment efficiency by increasing the amount of days it takes to pay suppliers Payment efficiency has not improved across the five-year period f) Based on the above information, what would be the effect of an upwards revaluation of PPE on current year ROE? in the marked square -> 1 A revaluation would increase the value of ROE 1 2 3 4 A revaluation would decrease the value of ROE A revaluation would have no effect on ROE The effect could not be determined