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The Greek Connection had sales of $32.8 million and a cost of goods sold of $13.1 million in 2018. A simplified balance sheet for the firm appears below: a. Calculate the Greek Connection's networking capital in 2018. b. Calculate the cash conversion cycle of The Greek Connection in 2018. c. The industry average accounts receivable days is 30 days. What would have been the cash conversion cycle for The Greek Connection in 2018 had it met the industry average for accounts receivable days? (Hint: Use a 365-day year.) (Click on the following icon in order to copy the contents of the table below into a spreadsheet.) Assets Cash Accounts receivable Inventory Total current assets Net plant, property, and equipment Total assets THE GREEK CONNECTION BALANCE SHEET as of December 31, 2018 (thousands of dollars) Liabilities and Equity $1,714 Accounts payable 3,473 Notes payable 1,511 Accruals $6,698 Total current liabilities $8,500 Long-term debt $15.19 Total liabilities Common equity Total liabilities and equity S1,617 1.000 1.220 S3,837 S3,000 56,837 8,361 S15,198 a. Calculate The Greek Connection's networking capital in 2018. The networking capital is $2861 thousand. (Round to the nearest integer.) b. Calculate the cash conversion cycle of The Greek Connection 2018 The cash conversion cycle is days. (Round to one decimal place.) Help me solve this View an example Get more help Clear all Check