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The Greek Connection had sales of $ 33.1 million and a cost of goods sold...

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Finance

The Greek Connection had sales of $ 33.1 million and a cost of goods sold of $ 13.2 million in 2013.

A simplified balance sheet for the firm appears below:

image

a. Calculate The Greek Connection's net working capital in 2013.

b. Calculate the cash conversion cycle of The Greek Connection in 2013.

c. The industry average accounts receivable days is 30 days. What would have been the cash conversion cycle for The Greek Connection in 2013 had it met the industry average for accounts receivable days? (Hint: Use a 365-day year.)

Assets Cash Accounts receivable Inventory Total current assets Net plant, property, and equipment Total assets $1,745 4,326 1,174 $7,245 $8,500 $15,745 Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term debt Total liabilities Common equity Total liabilities and equity $1,749 1,000 1,220 $3,969 $3,000 $6,969 $8,776 $15,745

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