Q4. In the table below is information for two companies: $000) Company K Company L Net sales(revenues) 21,472 23,314 Cost of goods sold 13,050 5,192 Average inventory 350 457 Average accounts receivable 1,837 4,996 Average accounts payable 2,025 1,048 Turnover days ? ? Days inventory outstanding 37 32 Days sales outstanding 31 78 Days payable outstanding 61 75 Total assets 12,500 12,000 Cash conversion cycle ? ? From the above data, make the observations about the relative performance and determine the better-performed company. (Remember that cash flow begins with payment for raw material and ends with cash receipt on credit sales. The shorter the number of days in this cycle, the more available cash, and less need to borrow). Q2. a. What kind of decision is making the financial manager of a company? Explain briefly. b. What qualifications are required for the CFO of a company? Explain briefly. c. Which ratios are used to evaluate the stock performance of a listed company? Explain briefly. Q3. a. What kind of decisions are making the financial manager of companies? Explain briefly. b. Compare and contrast leasing and forfeiting? c. What are depreciation, depletion, and amortization? Explain briefly