The following data was extracted from the company statements of Funky-wear Limited, a children's clothing retailer for the year ended 31 March 2022: Credit purchases R 259 200 Credit sales R 432 000 Opening stock R 107 845 Closing stock R 85 000 Debtors R 86 400 Creditors R 44 740 REQUIRED: 3.1 Calculate the length of the working capital cycle by making use of the ratios, day's (9) stock on hand (inventory): debtor's collection period (receivables) and creditors (payables) settlement period. 3.2 Briefly discuss possible actions that might be taken to reduce the length of the (6) working capital cycle. 3.3 Write an email to the junior financial accountant of Funky-wear (Pty) Ltd in which (9) you discuss the limitations of financial statement analysis