Please solved this question complete , somebody solved it incomplete. I need complete solution. You have to answer a, b and c.
The Greek Connection had sales of $32 million in 2009, and a cost of goods sold of $18.0 million. A simplified balance sheet for the firm appears below:
THE GREEK CONNECTION
Balance Sheet
As of December 31, 2009
(thousands of dollars)
Assets
Liabilities and Equity
Cash
$2,000
Accounts payable
$1,500
Accounts receivable
$3,950
Notes payable
$1,000
Inventory
$1,300
Accruals
$1,220
Total current assets
$7,250
Total current liabilities
$3,720
Net plant, property
Long-term debt
$3,000
and equipment
$8,500
Total liabilities
$6,720
Total Assets
$15,750
Common equity
$9,030
Total liabilities and equity
$15,750
a. Calculate The Greek Connection’s net working capital in 2009.
Net Working Capital is $ . (round to the nearest integer, in thousand dollar)
b. Calculate the cash conversion cycle of The Greek Connection in 2009.
The Cash Conversion Cycle is days. (round to one decimal, assume 365 days/year)
c. The industry average days sales outstanding ratio is 28 days.
What would the cash conversion cycle for The Greek Connection have been in 2009 had it matched the industry average days sales outstanding?
If Accounts Receivable Days were 28, the Cash Conversion Cycle would be days. (round to one decimal, assume 365 days/year)