Q-4: You are evaluating EXL Ltd, a well-known leather and fashion brand company that manufactures quite a wide range of products. You were provided with the following financial ratios for EXL as well as for the Leather & Fashion Industry. Financial Ratios EXL Leather & Fashion Industry Current 2.75 2.25 Quick 1.83 1.2 Debt/assets 50.00% 58.76% Turnover of cash and securities 26.67 22.22 Days sales outstanding 45 32 Inventory turnover 12.00 7 11.35 10 2.08 2.2 Fixed assets turnover Total assets turnover Profit margin on sales Return on equity (ROE) Payables deferral period 3.77% 3.50% 23.45% 21.00% 30 33 (A) IF EXL company's total current assets amount to AED 23.75 million, how much is the working capital? (2 Marks) (B) How is EXL company's working capital situation compared to the industry? Support your answer with reference to specific ratios used for working capital analysis. (2 Marks) (C) Calculate EXL's cash conversion cycle, assuming all calculations use a 360-day year. (2 Marks)