REQUIRED Study the information provided below and calculate the following (expressed to twodecimal places): 1.1.1 Working capital cycle 1.1.2 The effective interest rate on the loan from GAP Bank, fi the interest was discounted (2 marks) 1.1.3 The effective interest rate on the loan from GAP Bank, fi there was a 15% compensating balance requirement (2 marks) INFORMATION Excerpts of financial statements of Maverick Limited for 2022 are as follows: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 Sales Cost ofsales Opening inventory Purchases Closing inventory Gross profit STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 Assets Trading inventory Accounts receivable Cash Liabilities Long-term loan: GAP Bank (20%) Accounts payable R 17 500 000 (14 000 000) 4500 000 ? ( 4000 000) 3 500 000 R ? 2000 000 250 000 2 000 000 1000 000 NOTE .1 The loan from GAP Bank was obtained on 01 January 2022. No repayments were made during the financial year. Interest is not capitalised. (7marks) 1 2. Al purchases and sales of inventories are on credit. 1.2 R Study the graph below and identify the type ofworking capital financing policy used by the business. Comment on this policy. Short-term deposits Permanent current assets Non-current assets (5 marks) ) Short-term financing Long-term financing Time 1.3 Explain TWO (2)ways ni which business entity can use its current assets as collateral to obtain short-term financing