The Greek Connection had sales of $32 million in 2015, 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 2015.
b. Calculate the cash conversion cycle of The Greek Connection in 2015.
c. The industry average accounts receivable days is 30 days. What would the cash conversion cycle for The Greek Connection have been in 2015 had it matched the industry average for accounts receivable days?

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THE GREEK CONNECTION Balance Sheet As of December 31, 2015 in $ thousand) Liabilities and Equity Assets Cash Accounts receivable S 1,500 1,000 1,220 S 3,720 $ 2,000 Accounts payable 3.950 Notes payablo 1,300 Accruals Total current assets $ 7,250 Total current liabilities Lon Total liabilities debt Net plant, property and equipment Total assets 6,720 9,030 15,750 $ 8,500 Common 15.750 ailities and equity