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 $ $6,495,000$ $ $2,340,000$

Contribution revenues $3,417,500$ $ $759,0003,290,000$

Grant revenue $105,000$ $ $1,034,000$

Net gains on endowment investments $18,400$

Net assets released from restriction

Satisfaction of program restrictions $468,000(468,000)647,000(647,000)$

Total revenues $10,398,900396,0006,277,000387,000$

Expenses

Education program expenses $6,521,0001,568,000$

Research program expense $1,265,0002,706,000$

Total program service expenses $7,786,0004,274,000$

Fund$-$raising $546,000401,000$

Administration $659,0001,238,000$

Total supporting service expenses $1,205,0001,639,000$

Total expenses $8,991,0005,913,000$

Increase in net assets $1,407,900396,000364,000387,000$

Net assets January $14,217,000768,0001,046,500329,000$

Net assets December $31$ $ $5,624,900$ $ $1,164,000$ $ $1,410,500$ $ $716,000$

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

Current assets

Cash $ $214,000$ $ $365,000$

Short$-$term cash equivalents $274,00099,900$

Supplies inventories $41,000159,000$

Receivables $448,500197,500$

Total current assets $977,500821,400$

Noncurrent assets

Noncurrent pledges receivable $274,000$

Endowment investments $2,680,000$

Land, buildings, and equipment $($net$)3,184,0001,777,000$

Total noncurrent assets $6,138,0001,777,000$

Total assets $ $7,115,500$ $ $2,598,400$

Current liabilities

Accounts payable $ $32,000$ $ $138,000$

Total current liabilities $32,000138,000$

Noncurrent liabilities

Notes payable $187,500$

Total noncurrent liabilities $187,500$

Total liabilities $219,500138,000$

Net Assets

Unrestricted $4,034,0002,373,500$

Donor restricted for purpose $164,00086,900$

Donor restricted for endowment $2,680,0000$

Total net assets $6,878,0002,460,400$

Total liabilities and net assets $ $7,097,500$ $ $2,598,400$

Required:

a$.$ Calculate the following ratios $($assume depreciation expense is $$759,000$ 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$).$