Presented below are financial statements $($except cash flows$)$ for two not$-$for$-$profit organizations. Neither organization has any permanently restricted net assets.

ABC Not$-$for$-$Profit XYZ Not$-$for$-$Profit

Statement of Activities Unrestricted Temporarily

Restricted Unrestricted Temporarily

Restricted

Revenues

Program service revenue $ $7,395,000$ $ $2,430,000$

Contribution revenues $3,507,500$ $ $768,0003,380,000$

Grant revenue $114,000$ $ $1,043,000$

Net gains on endowment investments $19,300$

Net assets released from restriction

Satisfaction of program restrictions $486,000(486,000)917,000(917,000)$

Total revenues $11,407,800396,0006,727,000126,000$

Expenses

Education program expenses $7,421,0001,577,000$

Research program expense $1,274,0003,156,000$

Total program service expenses $8,695,0004,733,000$

Fund$-$raising $636,000446,000$

Administration $668,0001,247,000$

Total supporting service expenses $1,304,0001,693,000$

Total expenses $9,999,0006,426,000$

Increase in net assets $1,408,800396,000301,000126,000$

Net assets January $14,226,000777,0001,055,500338,000$

Net assets December $31$ $ $5,634,800$ $ $1,173,000$ $ $1,356,500$ $ $464,000$

Statement of Net Assets ABC Not$-$for$-$Profit XYZ Not$-$for$-$Profit

Current assets

Cash $ $223,000$ $ $374,000$

Short$-$term cash equivalents $283,000100,800$

Supplies inventories $50,000168,000$

Receivables $457,500206,500$

Total current assets $1,013,500849,300$

Noncurrent assets

Noncurrent pledges receivable $283,000$

Endowment investments $2,770,000$

Land, buildings, and equipment $($net$)3,193,0001,786,000$

Total noncurrent assets $6,246,0001,786,000$

Total assets $ $7,259,500$ $ $2,635,300$

Current liabilities

Accounts payable $ $41,000$ $ $147,000$

Total current liabilities $41,000147,000$

Noncurrent liabilities

Notes payable $196,500$

Total noncurrent liabilities $196,500$

Total liabilities $237,500147,000$

Net Assets

Unrestricted $4,043,0002,382,500$

Donor restricted for purpose $173,000105,800$

Donor restricted for endowment $2,770,0000$

Total net assets $6,986,0002,488,300$

Total liabilities and net assets $ $7,223,500$ $ $2,635,300$

Required:

a$.$ Calculate the following ratios $($assume depreciation expense is $$768,000$ for both organizations and is allocated among program and supporting expenses$)$:

Program expense.

Fund$-$raising efficiency.

Days cash on hand.

Working capital $($expressed in days$).$

b$.$ For each ratio, which of the two organizations has the stronger ratio.

$($Assume $365$ days in a year. Do not round intermediate calculations. Round "Program expense" answers to $1$ decimal place and "Fund$-$raising efficiency" answers to $3$ decimal places and "Days cash on hand", "Working capital" answers to nearest whole number.$)$