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The Greek Connection had sales of $33.2 million and a cost of goods sold of $13.3 million in 2015. A simplified balance sheet for the
The Greek Connection had sales of $33.2 million and a cost of goods sold of $13.3 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 $1,969 Accounts payable Accounts receivable 3,455 Notes payable Inventory 1,242 Accruals Total current assets $6,666 Total current liabilities Net plant, property, and equipment $8,500 Long-term debt Total assets $15,166 Total liabilities Common equity Total liabilities and equity $1,389 1,000 1,220 $3,609 $3,000 $6,609 $8,557 $15,166 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
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