(07) (0 marks) ks) [CLO 3] Given below is some financial information of Valery Designer Doors for the year 2016 $1,000 $1,500 $4,000 Accounts Payable Accrued Expenses Cash and Equivalents Long Term Debt Prepaid Expenses Taxos Payable Wages Payable Inventories $12,000 $500 $3,000 $2,000 $1,100 $2,050 Accounts Receivables Answer the questions given below. (a) Apply ratio analysis and find the current ratio? (2 marks) (b) If the operating cycle of Valerie Designer Doors is 55 days and its Net purchases for the coming year 2019 are expected to be $24,500 with the inventory taking 20 days to sell, what is the company's average payable period and the company's cash conversion cycle. (4 marks)