The Greek Connection Had Sales Of 33 3 Million And A Cost Of Goods Sold Of 13 3 Million In 2018 A Simplified Balance 1 (67.7 KiB) Viewed 27 times
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.)
Assets Cash Accounts receivable Inventory Total current assets Net plant, property, and equipment Total assets THE GREEK CONNECTION BALANCE SHEET as of December 31, 2018 (thousands of dollars) Liabilities and Equity $1,812 Accounts payable 3,709 Notes payable 1,162 Accruals $6,683 Total current liabilities $8,500 Long-term debt $15,183 Total liabilities Common equity Total liabilities and equity $1,40 1,000 1,220 $3,623 $3,000 $6,623 $8,56 $15,18
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