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The Greek Connection had sales of $30.9 million and a cost of goods sold of $12.4 million in 2013. A simplified balance sheet for the

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The Greek Connection had sales of $30.9 million and a cost of goods sold of $12.4 million in 2013. A simplified balance sheet for the firm appears below: a. Calculate The Greek Connection's net working capital in 2013. b. Calculate the cash conversion cycle of The Greek Connection in 2013. c. The industry average accounts receivable days is 30 days. What would have been the cash conversion cycle for The Greek Connection in 2013 had it met the industry average for accounts receivable days? (Hint: Use a 365-day year.) Assets Cash Accounts receivable Inventory Total current assets Net plant, property, and equipment Total assets THE GREEK CONNECTION BALANCE SHEET as of December 31, 2013 (thousands of dollars) Liabilities and Equity $1,911 Accounts payable 4,318 Notes payable 1,339 Accruals $7,568 Total current liabilities $8,500 Long-term debt $16,068 Total liabilities Common equity Total liabilities and equity $1,404 1,000 1,220 $3,624 $3,000 $6,624 $9,444 $16,068 a. Calculate The Greek Connection's net working capital in 2013. The net working capital is $ thousand. (Round to the nearest integer.) b. Calculate the cash conversion cycle of The Greek Connection in 2013. The cash conversion cycle is days. (Round to one decimal place.) c. The industry average accounts receivable days is 30 days. What would have been the cash conversion cycle for The Greek Connection in 2013 had it met the industry average for accounts receivable days? Had they met the industry average accounts receivable days of 30 days, the CCC would have been days. (Round to one decimal place.)

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