The Greek Connection had sales of $29.7 million and a cost of goods sold of $11.9

million in 2015. A simplified balance sheet for the firm appears? below:

THE GREEK CONNECTION

Balance Sheet as of December? 31, 2015? (thousands of? dollars)

Assets			Liabilities and Equity
Cash	?$1,762		Accounts payable	?$1,252
Accounts receivable	$3,501		Notes payable	$1,000
Inventory	$1,145		Accruals	$1,220
Total current assets	?$6,408		Total current liabilities	?$3,472
Net? plant, property, and equipment	?$8,500		?Long-term debt	?$3,000
Total assets	$14,908		Total liabilities	?$6,472
			Common equity	?$8,436
			Total liabilities and equity	?$14,908

a. Calculate The Greek? Connection's net working capital in 2015.

b. Calculate the cash conversion cycle of The Greek Connection in 2015.

c. The industry average accounts receivable days is 30 days. What would the cash conversion cycle for The Greek Connection have been in 2015 had it matched the industry average for accounts receivable? days?