Question 1 (25 points): Superb Manufactures, Ltd. has got the following balance sheet: Cash Near-cash assets Accounts Receivable Inventories Machinery Accrued Degrec Total Net Assets 1,2 2,4 9,2 3,6 16,8 8,8 Accounts Payable 2,1 Short-Term Debt 14,6 Long-Term Debt 5,2 Equity -2,5 30,7 30,7 Total Liabilities Please calculate the Working Capital and the Working Capital Requirements too, and indicate if there is an excess of liquidity or a lack of liquidity. Question 2 (15 points): I Mad Computers, Inc has got the following capital structure: A 6441,6 M (million) bond issuance and several different loans that amount to 122,8 M, whose average interest rate is 8,24%. Additionally, It has got a C106,2 M preferred stock issuance that pays a fixed 9,2% coupon. And last, there is equity (capital + retained earning) worth 697,1M, whose required return is 16,4%. Please compute the WACC of Mad Computers if the company is subject to a 40% income tax bracket. Question 3 (15 points): Light Processors, Co. manufactures high-end laptops. The company has broken even when selling 46.618 units. If the fixed costs of the company were 6.874 212 and the average selling price per unit of the laptops had been 1,048, what must have been the variable cost per laptop? B Tab X ODD 21 Styles Styles Pane Dictate Sensitivity Question 4 (30 points): Fine Furniture, Inc. produces design furniture. The company has got the below statements. Please, calculate the Days of Sales Outstanding, the Days of Sales in Inventories, the Days of Payable Outstanding and the complete Cash Conversion Cycle. Balance Sheet 2.020 2.021 Cash 16 17 Accounts Receivable 220 327 Inventores 642 752 Gross Fixed Assets 1.400 1.769 Ace Depreciation 200 350 Net Fixed Assets 1.200 1.419 Total Net Assets 2.078 2.515 Accounts Payable Short-Term Debt Long-Term Debt Equity Total abilities 602 140 586 750 2.078 712 184 792 822 2.515 2.020 1 PAL Sales COGS Operating Expenditure Depreciation CATT Interests EST Taxes Net Income 2.021 2.200 1.150 750 150 150 21 129 52 77 Gestion 5 (15 point Spare Parts, Inc. has purchased 4.000 from its supplier. The supplier will be willing to grant a 1,20% discount provided Spare Parts, Inc. pays the full invoice within 10 days. The invoice will come due 6o de past. If the company waives the discount, what will the cost of such a loan be on an annual basis? Use 360 days per year as the basis for the computation 405 words English (United States Focus