The Greek Connection had sales of $32 million in 2009, and a cost of goods sold of $20 million. A simplified balance sheet for the firm appears below:
		THE GREEK CONNECTION
		Balance Sheet
		As of December 31, 2009
		(000)
		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.
	b.	Calculate the cash conversion cycle of The Greek Connection in 2009.
	c.	The industry average days sales outstanding ratio is 30 days. What would the cash conversion cycle for The Greek Connection have been in 2009 had it matched the industry average days sales outstanding?
		Sales (000)	$32,000		Days in a year	365
		Cost of Goods Sold (000)	$20,000
	a.	Calculate The Greek Connections net working capital in 2009.
		Net working capital (000)
	b.	Calculate the cash conversion cycle of The Greek Connection in 2009.
		Accounts receivable days
		Inventory days
		Accounts payable days
		Cash conversion cycle (days)
	c.	The industry average days sales outstanding ratio is 30 days. What would the cash conversion cycle for The Greek Connection have been in 2009 had it matched the industry average days sales outstanding?
		Industry accounts receivable days	30
		Cash conversion cycle (days)