Given the activities of each company, comment on how you would expect each company to generate its cash inflows together with an assessment of the liquidity, solvency and long-term financial stability of each company. Your answers should address the following issues, among others:

• The current and quick ratios of the four companies.

• The cash conversion cycles of the four companies.

• Why do the inventory, receivables and payables days vary so much in the four companies?

• The gearing levels in the four companies and whether these are manageable.