The Greek Connection had sales of

$29.4

million and a cost of goods sold of

$11.8

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	$1,522		Accounts payable	$1,611
Accounts receivable	3,886		Notes payable	1,000
Inventory	1,395		Accruals	1,220
Total current assets	$6,803		Total current liabilities	$3,831
Net plant, property, and equipment	$8,500		Long-term debt	$3,000
Total assets	$15,303		Total liabilities	$6,831
			Common equity	$8,472
			Total liabilities and equity	$15,303

Question content area bottom

Part 1

a. Calculate The Greek Connection's net working capital in

2018.

The net working capital is

$enter your response here

thousand.(Round to the nearest integer.)