The Greek Connection had sales of $32 million in 2012 and acost of goods sold of $20 million. A simplified balance sheet forthe firm appears below: THE GREEK CONNECTION Balance Sheet As ofDecember 31 2012 (in $ thousand) Assets Liabilities and EquityCash Accounts receivable Inventory $ 2000 3950 1300 Accountspayable Notes payable Accruals $ 1500 1000 1220 Total currentassets $ 7250 Total current liabilities Long-term debt $ 37203000 Net plant property and equipment $ 8500 Total liabilitiesCommon equity $ 6720 9030 Total assets $ 15750 Total liabilitiesand equity $ 15750
