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Please solved this question complete , somebody solved it incomplete. I need complete solution. You have to answer a, b and c. Thanks for your
Please solved this question complete , somebody solved it incomplete. I need complete solution. You have to answer a, b and c. Thanks for your help. The Greek Connection had sales of $32 million in 2009, and a cost of goods sold of $18.0 million. A simplified balance sheet for the firm appears below: THE GREEK CONNECTION Balance Sheet As of December 31, 2009 (thousands of dollars) Assets Liabilities and Equity Cash $2,000 Accounts payable $1,500 Accounts receivable $3,950 Notes payable $1,000 Inventory $1,300 Accruals $1,220 Total current assets $7,250 Total current liabilities $3,720 Net plant, property Long-term debt $3,000 and equipment $8,500 Total liabilities $6,720 Total Assets $15,750 Common equity $9,030 Total liabilities and equity $15,750 a. Calculate The Greek Connections net working capital in 2009. Net Working Capital is $ . (round to the nearest integer, in thousand dollar) b. Calculate the cash conversion cycle of The Greek Connection in 2009. The Cash Conversion Cycle is days. (round to one decimal, assume 365 days/year) c. The industry average days sales outstanding ratio is 28 days. What would the cash conversion cycle for The Greek Connection have been in 2009 had it matched the industry average days sales outstanding? If Accounts Receivable Days were 28, the Cash Conversion Cycle would be days. (round to one decimal, assume 365 days/year)
Please solved this question complete , somebody solved it incomplete. I need complete solution. You have to answer a, b and c.
Thanks for your help.
The Greek Connection had sales of $32 million in 2009, and a cost of goods sold of $18.0 million. A simplified balance sheet for the firm appears below:
THE GREEK CONNECTION
Balance Sheet
As of December 31, 2009
(thousands of dollars)
Assets
Liabilities and Equity
Cash
$2,000
Accounts payable
$1,500
Accounts receivable
$3,950
Notes payable
$1,000
Inventory
$1,300
Accruals
$1,220
Total current assets
$7,250
Total current liabilities
$3,720
Net plant, property
Long-term debt
$3,000
and equipment
$8,500
Total liabilities
$6,720
Total Assets
$15,750
Common equity
$9,030
Total liabilities and equity
$15,750
a. Calculate The Greek Connections net working capital in 2009.
Net Working Capital is $ . (round to the nearest integer, in thousand dollar)
b. Calculate the cash conversion cycle of The Greek Connection in 2009.
The Cash Conversion Cycle is days. (round to one decimal, assume 365 days/year)
c. The industry average days sales outstanding ratio is 28 days.
What would the cash conversion cycle for The Greek Connection have been in 2009 had it matched the industry average days sales outstanding?
If Accounts Receivable Days were 28, the Cash Conversion Cycle would be days. (round to one decimal, assume 365 days/year)
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