UBISOFT Part V - Operating Cycle Perform a detailed analysis of Ubisoft's operating cycle for the five years ended March 31, 2021. A. Using the Commonly Used Ratios calculate the Operating Cycle ratios for each of the five years ended March 31, 2021. B. Discuss the overall trends over the five year period in terms of how the Group has managed its operating cycle. Address how the Group has managed its operating cycle through periods of growth or decline. Also address how the Group's strategy is reflected in its operating cycle, including detailed references to Group information from Ubisoft's financial statements. (As you reference Group information, note the page number and year of annual report for easy reference in class.) Part VI - Liquidity Risk Perform a detailed analysis of Ubisoft's liquidity risk for the five years ended March 31, 2021. A. As part of your evaluation, calculate the following ratios for the five years ended March 31, 2021 and state your conclusion regarding what each ratio indicates about Ubisoft's liquidity risk. Ability of Cash Flow from Operations to Cover Current Debt and Dividends Free cash flow Current Ratio Quick Ratio B. Identify other financial resources at the Group's disposal at March 31, 2021 and indicate the relevance of these resources to the Group's liquidity. C. Discuss the overall trends over the five year period in terms of how the Group has managed its liquidity, including detailed references to Group information from Ubisoft's financial statements. (As you reference Group information, note the page number and year of annual report for easy reference in class.) Part VII - Solvency Risk Perform a detailed analysis of Ubisoft's solvency risk for the five years ended March 31, 2021. A. As part of your evaluation, calculate the following ratios for the five years ended March 31, 2021 and state your conclusion regarding what each ratio indicates about Ubisoft's solvency risk. Total debt to equity Financing debt to equity Long-term ability of Cash Flow from Operations to Cover Debt and Dividends B. Identify other obligations facing the Group at March 31, 2021 (including financial obligations not reflected on the balance sheet, the timing of debt payments, debt covenants, stock repurchase plans, dividend payment plans, etc.)