$1.$ Explain how Dell$$s working capital policy is a competitive advantage for the company.

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$2.$ How did Dell fund its $52\%$ growth in $1996?$

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$3.$ Assuming Dell$$s sales will grow $50\%$ in $1997,$ how would you recommend that the company fund their growth?$$ How much working capital would need to be reduced and$/$or profit margin increased if the company were to fund its growth by relying only on internal sources of capital?$$ What steps would you recommend that Dell take to achieve its growth goal?

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$4.$ How, if at all, would you answers to Question $3$ change if Dell also repurchased $$500$ million of common stock in $1997$ and repaid its outstanding long$-$term debt?