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Working capital management involves managing the firm’s liquidity, which—in turn—involves managing the firm’s investments in current assets and in the use of current liabilities. Explain the determinants of net working capital and the cash conversion cycle. How can these strategies be used in Saudi Arabian companies? Why is working capital so important to a firm when the presence of credit and leverage tend to be utilized more? What advantage does a highly liquid firm have over a highly leveraged firm? Explain. Embed course material concepts, principles, and theories, which require supporting citations along with two scholarly peer-reviewed references supporting your answer. Keep in mind that these scholarly references can be found in the Saudi Digital Library by conducting an advanced search specific to scholarly references. Be sure to support your statements with logic and argument, citing all sources referenced. Post your initial response early and check back often to continue the discussion. Be sure to respond to your peers’ posts as well. Readings Required: Chapter 15 in Foundations of Finance: Working-Capital Management Chapter 17 in Foundations of Finance: Cash, Receivables, and Inventory Management Bugshan, A. (2021). Oil price volatility and corporate cash holding. Journal of Commodity Markets. https://doi.org/10.1016/j.jcomm.2021.100237 Recommended: Chapter 15 PowerPoint slides in Foundations of Finance: Working-Capital Management Chapter 17 PowerPoint slides in Foundations of Finance: Cash, Receivables, and Inventory Management Bagais, O. A., & Aljaaidi. K.S. (2021). Financial ratios in energy projects: The case of days sales of inventory. Journal of Project Management, 57–60. https://doi.org/10.5267/j.jpm.2020.9.001 Requirements: 500-1000 | .doc file