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The Greek Connection had sales of $33.3 million and a cost of goods sold of $13.3 million in 2018. A simplified balance sheet for the

The Greek Connection had sales of

$33.3

million and a cost of goods sold of

$13.3

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.)(Click on the following icon

in order to copy the contents of the table below into a spreadsheet.)

THE GREEK CONNECTION

BALANCE SHEET as of December 31, 2018

(thousands of dollars)

Assets

Liabilities and Equity

Cash

$2,095

Accounts payable

$1,745

Accounts receivable

4,228

Notes payable

1,000

Inventory

1,136

Accruals

1,220

Total current assets

$7,459

Total current liabilities

$3,965

Net plant, property, and equipment

$8,500

Long-term debt

$3,000

Total assets

$15,959

Total liabilities

$6,965

Common equity

$8,994

Total liabilities and equity

$15,959

Question content area bottom

Part 1

a. Calculate The Greek Connection's net working capital in

2018.

The net working capital is

$enter your response here

thousand.(Round to the nearestinteger.)

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