Question
The Greek Connection had sales of $32.0 million and a cost of goods sold of $20.0 million in 2018. A simplified balance sheet for the
The Greek Connection had sales of $32.0 million and a cost of goods sold of $20.0 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.)
Will rate answer if correct! Thank you.
Assets Cash $1.500 Inventory Total Ourent Netplant property, and equipment THE GREEK CONNECTION BALANCE SHEET as of December 31, 2018 (thousands of dollars) Llabilities and Equity Accounts payable No Accruel Total current les $8.500 Long-term $15.750 Total Common equity Totland uity 1,000 1 220 $3,720 $3.000 56,720 $9.00 $15.750Step by Step Solution
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