4. Below is the projected financial information for Daisy Digital Data (DDD) for the next four quarters: Sales COGS Depreciation Net income Net capital spending 0 Qtr 1 Qtr 2 Qtr 3 11,000 13,000- 15,000 Qtr 4 10,000 Year Total 49,000 7,000 8,400 11,200 6,300 32,900 500 700 900 900 3,000 700 1,000 2,000 500 4,200 1,500 800 600 0 Average 1,300 1,500 1,400 1,100 1,325 3,300 4,500 2,100 2,000 2,975 1,950 2,750 1,250 1,350 1,825 Accounts receivable Inventory 2,800 600 Accounts payable Net income includes additional expenses other than those listed What are DDD's permanent and temporary working capital needs? If DDD ends quarter o with $200 in cash, then what are DDD's maximum borrowing needs and in what quarter does this occur? What are DDD's average operating cycle and average cash conversion cycle (in days).