The Russian Connection had sales of $$31\mathrm{.}1$ million in $2016,$ and a cost of goods sold of $$12\mathrm{.}4$ million. A simplified

balance sheet for the firm appears below:

a$.$ calculate The Russian Connection's net working capital in $2016.$

b$.$ calculate the cash conversion cycle of The Russian Connection in $2016.$

c$.$ the industry average accounts receivable days is $30$ days $-$ what would the CCC for The Russian Connection have

been in $2016$ had it met the industry average for accounts receivable days?

$($Hint: Use a $365-$day year.$)$

THE RUSSIAN CONNECTION

BALANCE SHEET as of $31$ December $2016($thousands of dollars$)$