qa) Consider the following financial statement information for Clinton Corporation: Item Beginning Ending Inventory $11,500 $13,100 Accounts receivable $23,000 $35,500 Accounts payable $8,800 $9,700 Credit sales $225,000 Cost of goods sold $95,000 Calculate the operating and cash cycles. How do you interpret your answer? (4 marks) b) Big Wig Corporation operating out of Toco in Trinidad is seeking to determines it's cost of equity. Big Wig has an unlevered cost of capital of 12 percent, a tax rate of 20 percent, and an expected EBIT of $1,500,000. Big Wig has $350,000 of Bond debt outstanding that pays a 7 percent coupon interest annually, that is currently selling at par value. What is the cost of equity? (4 marks)