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:

Problem 26-4 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 Cash Accounts receivable Inventory Total current assets $2,000 3,950 1,300 $7.250 Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities $1,500 1,000 1,220 $3,720 $3,000 Net plant, property and equipment Total Assets $8,500 $15,750 Long-term debt Total liabilities Common equity Total liabilities and equi 9,030 $15.750 a. Calculate The Greek Connection's 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 Sales (000) $32,000 Days in a year D 365 Cost of Goods Sold (000) $20,000 a. Calculate The Greek Connection's 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 Industry accounts receivable da 30 Cash conversion cycle (days) C Requirements 1. Start Excel - completed. 2. In cell D31, by using cell references, calculate the company's net working capital (1 3. To calculate the cash conversion cycle, you need to calculate accounts receivable days, inventory days, and accounts payable days. In cell D35, by using cell references, calculate the accounts receivable days (1 pt.). Note: Be sure to refer to cell G26 in your calculations. 4. In cell D36, by using cell references, calculate the inventory days (1 pt.) Note: Be sure to refer to cell G26 in your calculations. 5. In cell D37, by using cell references, calculate the accounts payable days (1 pt.) Note: Be sure to refer to cell G26 in your calculations. 6. In cell D38, by using cell references, calculate the cash conve es, calculate the cash conversion cycle (1 pt.). 7. In cell 044, by using cell references, calculate the cash conversion cycle based on the industry accounts receivable days (1 pt.) 8. Save the workbook. Close the workbook and then exit Excel. Submit the workbook as di