The Greek Connection had sales of $32 million in 2010, and a cost of goods sold of $20 million. A simplified balance sheet for the firm appears below:

a. Calculate The Greek Connection's net working capital in 2010.

b. Calculate the cash conversion cycle of The Greek Connection in 2010.

c. The industry average accounts receivable days is 30 days. What would the cash conversion cycle for The Greek Connection have been in 2010 had it matched the industry average for accounts receivable days (see MyFinanceLab for the data in Excelformat)?

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The Greek Connection Balance Sheet as of December 31, 2010 (thousands of dollars) Liabilities and Equity Accounts payable $ 2,000 S 1,500 1,000 1,220 S 3,720 S 3,000 S 6,720 S 9,030 S 15,750 3,950 Notes payable 1,300 Accruals Accounts receivable Total current assets $7,250 Total current liabilities Long-term debt Total liabilities Net plant, property, and equipment 8,500 Total assets S15,750 Cmmon equity Total liabilities and equity