This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began in Chapter 1. The components of the Burburr serial case can be completed in any order. Burburr Resorts & Hotels Corporation is a fictitious corporation.

The statements of operations (income statements) and balance sheets for Burburr Resorts & Hotels Corporation follow.

Requirements1. Calculate Burburr’s net working capital for 2023 and 2022. What does the net working capital figure mean? Did Burburr’s net working capital improve from 2022 to 2023? Explain.2. Calculate Burburr’s current ratio for 2023 and 2022.3. Calculate accounts receivable turnover for 2023. Assume all net revenue is from credit sales. Next, calculate days’ sales outstanding. What does this number mean?4. Calculate the times-interest-earned ratio for 2023. What does this ratio mean?

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12445 6 Net revenues 7 Operating expenses 8 Income (loss) from operations Burburr Resorts & Hotels Corporation Consolidated Statements of Operations In millions, except per share data 9 Interest expense 10 Other gains (losses) 11 Loss from continuing operations before taxes 12 Income tax benefit 13 Loss from continuing operations, net of taxes Other items 15 Net loss 16 S 2023 Years Ended December 31, 8,391 S 7,652 739 (1,346) 790 183 121 304 (1) 303 S 2022 4,868 S 4,331 537 (773) (2,134) (2,370) 1,995 (375) (368) S 2021 3,877 3,651 226 (599) (5,758) (6,131) (327) (6,458) 3,409 (3,049) HD