Use the information in the table below to answer the following: 1. Calculate the Cash Conversion Cycle for the 3 companies, and explain which (and why) company has more efficient working capital management. 2. Based on your answers above and assume that you are hired as a financial consultant for the 3 companies, what do you recommend the 3 companies in order to improve their working capital management ? Company 1 Company 2 Company 3 6 times 8 times 10 times Inventory Turnover Account Receivable Turnover 10 times 20 times 15 times 9 times 3 times 4 times Account payable Turnover Credit ferms granted to customers (1/15, 20) (1/15, 20) (1/15, 20) Credit terms received (1/20, 140) from suppliers (1/20, 140) (1/20, 140)