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

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

$3.$ 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?

$4.$ 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?