14. The Russian Connection had sales of $31.1 million in 2016, and a cost of goods sold of $12.4 million. A simplified balance sheet for the firm appears below: a. calculate The Russian Connection's net working capital in 2016. b. calculate the cash conversion cycle of The Russian Connection in 2016. c. the industry average accounts receivable days is 30 days-what would the CCC for The Russian Connection have been in 2016 had it met the industry average for accounts receivable days? + Hint: Use a 365-day year.) THE RUSSIAN CONNECTION BALANCE SHEET as of 31 December 2016 (thousands of dollars) Assets Cash $1 376 Liabilities and Equity $1 921 Accounts payable - 3 621 Notes payable 1 075 Accruals $6 617 Total current liabilities $8 500 Long-term debt Accounts receivable Inventory Total current assets 1 000 1 220 $3 596 $3.000 Net plant, property and equipment Total assets Total liabilities $6 596 $15 117 Issued equity $8 521 Total liabilities and equity $15 117