Referring to Carrefours financials for Thailand (see Case Exhibit 19.1), compute the days sales outstanding ratios for accounts receivable (A/Rs) and its payment deferral ratio for accounts payable (A/Ps). What is Carrefours cash conversion cycle? What does it mean for Carrefours working capital requirement and financing needs? How would you characterize Carrefours competitive strategy in Thailand? CASE EXHIBIT 19.1 Carrefours Financials for Thailand Balance Sheet (in Millions of Thai Baht) Other current assetsa Capital assets Fixed assets Intangible assets Financial assets Total assets 15,034 33,671 6,754 5,078 76,347 Other long-term liabilities Owners equity Liabilities and owners equity 3,604 24,342 76,347 154,905 (125,072) 29,833 (22,184) (4,020)