Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

EX 8-28 Cash to Monthly Cash Expenses Ratio OBJ. 8 Amicus Therapeutics, Inc., is a biopharmaceutical company that develops drugs for the treatment of

image text in transcribed

EX 8-28 Cash to Monthly Cash Expenses Ratio OBJ. 8 Amicus Therapeutics, Inc., is a biopharmaceutical company that develops drugs for the treatment of various diseases, including Parkinson's disease. Amicus Therapeutics reported the following financial data (in thousands) for three recent years: Cash and cash equivalents Net cash flows from operations For Years Ended December 31 Year 3 Year 2 $ 79,749 (299,955) $ 49,060 (213,695) Year 1 $187,026 (150,147) a. Determine the monthly cash expenses for Year 3, Year 2, and Year 1. Round to one decimal place. b. Determine the ratio of cash to monthly cash expenses for Year 3, Year 2, and Year 1 as of December 31. Round to one decimal place. C. Based on (a) and (b), comment on Amicus Therapeutics' ratio of cash to monthly operating expenses for Years 1, 2, and 3.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

16th Edition

324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140

Students also viewed these Accounting questions

Question

Describe why you should establish an investment program.

Answered: 1 week ago