The Greek Connection had sales of $ 2 9 . 7 million and a cost of goods sold of $ 1 1 . 9 million

Question

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The Greek Connection had sales of $$29\mathrm{.}7$ million and a cost of goods sold of $$11\mathrm{.}9$ 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 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$)$

$\backslash$table$[[\{$

$\backslash$table$[[($thousands of dollars$)]]\}],[],[$Cash$,$$$1,872,$Accounts payable,$$1,623$