4. The Greek Connection had sales of $32 million in 2012, and a cost of goods sold of $20 million. A simplified balance sheet for the firm appears below:

THE GREEK CONNECTION Balance Sheet As of December 31, 2012 (in $ thousand)
Assets		Liabilities and Equity
Cash Accounts receivable Inventory	$ 2,000 3,950 1,300	Accounts payable Notes payable Accruals	$ 1,500 1,000 1,220
Total current assets	$ 7,250	Total current liabilities Long-term debt	$ 3,720 3,000
Net plant, property, and equipment	$ 8,500	Total liabilities Common equity	$ 6,720 9,030
Total assets	$ 15,750	Total liabilities and equity	$ 15,750

a. Calculate The Greek Connection