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please answer a, and c HW Score: 30.56%, 3.67 of 12 Homework: Homework 9 (Chapter 19) Question 4, P 19-6 (similar to) Part 1 of
please answer a, and c
HW Score: 30.56%, 3.67 of 12 Homework: Homework 9 (Chapter 19) Question 4, P 19-6 (similar to) Part 1 of 3 > points Points: 0.67 of 1 Save The Greek Connection had sales of $31.2 million and a cost of goods sold of $12.5 million in 2018. A simplified balance sheet for the firm appears below a. Calculate The Greek Connection's net working 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) THE GREEK CONNECTION BALANCE SHEET as of December 31, 2018 (thousands of dollars) Assets Liabilities and Equity Cash $2,287 Accounts payable $1,351 Accounts receivable 3,641 Notes payable 1,000 Inventory 1,207 Accruals 1,220 Total current assets $7.135 Total current liabilities $3,571 $8,500 Long-term debt $3,000 Net plant, property, and equipment Total assets $15,635 56,571 Total liabilities Common equity $9,064 Total liabilities and equity $15,635 a. Calculate The Greek Connection's net working capital in 2018. The net working capital is $thousand (Round to the nearest integer) Step by Step Solution
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