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Please calculate current ratio, quick ratio and cash ratio. Preferred Apartment Communities, Inc. Consolidated Balance Sheets December 31, 2016 December 31, 2015 Assets Real estate

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Please calculate current ratio, quick ratio and cash ratio.

Preferred Apartment Communities, Inc. Consolidated Balance Sheets December 31, 2016 December 31, 2015 Assets Real estate Land Building and improvements Tenant improvements Funiture, fixtures, and equipment 141,729,264 733,417.442 5,781,199 86,092,408 609.400 1,499,129,649 37,806,472 126,357.742 2,645 1,965.486,998 Gross real estate 1.629 Net real estate Property held for sale Real estate loans, net of deferred fee income Real estate loans to related parties, net 155.874 919.473,839 33,817,081 180,688,293 1861,672.104 201,855,604 130,905.464 2,194,433,172 Total real estate and real estate loans, net 1,191,292,678 Cash and cash equivalents Restricted cash Notes receivable Note receivable and revolving linc of credit from related party Accrued interest receivable on real estate loans Acquired intangible assets, net of amortization of $46,396,254 and $27,032,157 Deferred loan costs on Revolving Line of Credit, net of amortization of $422,873 and $791,002 55,392,984 15,499,699 22,115,976 21,894,549 79,156.400 1,768,779 2,677,023 15.572.233 2,439,605 12,539,440 18,489,247 19,454,486 14,294,648 19,381,473 488,770 costs Tenant receivables (net of allowance of S663,.912 and $434.773) and other assets 11.314.382 Total assets 2,420,832,602 $ 1,295,529,033 Liabilities and cquity Liabilities Mortgage notes payable, principal amount Less: deferred loan costs, net of amortization of $4.899,106 and $2.021.696 668,836,291 8.099 5 660,736,774 28,109,000 34,500,000 1,327,878,112 S 1,305,870,471 Mortgage notes payable, net of deferred loan costs rtgage note held for sale Revolving line of credit Term note payable 127,500,000 11,000,000 40,095 Less: deferred loan costs, net of amortization Term note payable, net of deferred loan costs Real estate loan participation obligation Accounts payable and accrued expenses Acerued interest payable Dividends and partnership distributions payable Acquired below market lease intangibles, net of amortization of $3,771,393 and S1,578,20:5 Security deposits and other liabilities 13,544,160 12,644,88 1,803,389 6,647,507 9,253,450 20,761,819 1,640 10,159,629 29,774,033 6,189,033 Total liabilities 1,535,571.440 770,075,243 Equity Stockholders equity Series A Redeemable Preferred Stock,$0.01 par value per share; 3,050,000 shares authorized: 924,855 and 486,182 shares issued; 914,422 and 482,964 4,830 shares outstanding at December 31, 2016 and 2015, respectively Common Stoek, $0.01 par value per share; 400,066,666 shares authorized; 26,498,192 and 22,761,551 shares issued and outstanding at December 31, 2016 and 2015, respectively Additional Accumulated deficit 264.982 906,737.470 (23,231,643 883,779,953 1.481.209 paid in capital 536.450,877 (13,698,52 Total stockholders' equity 22,9 2.468,987 5,453,790 1.295.529,033 Total equity Total lailities and equity 2,420,832.602 $ The accompanying notes are an integral part of these consolidated financial statements

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