. Presented below are financial statements (except cash flows) for two not-for-profit organizations. Neither organization nas any permanently restricted net assets. ABC Not-for-profit Temporarily Unrestricted Restricted XYZ Not-for-profit Temporarily Unrestricted Restricted $5,795,000 3,347,500 $2,270,000 3,220,000 $ 752,000 98,000 $1,027,000 17,700 454,000 9,614,200 (454,000) 396,000 437,000 5,927,000 (437.000) 590,000 Statement of Activities Revenues Program service revenue Contribution revenues Grant revenue Net gains on endowment investments Net assets released from restriction Satisfaction of program restrictions Total revenues Expenses Education program expenses Research program expense Total program service expenses Fund-raising Administration Total supporting service expenses Total expenses Increase in net assets Net assets January 1 Net assets December 31 5,821,000 1,258,000 7,079,000 476,000 652,000 1,128,000 8,207,000 1,407,200 4,210,000 $5,617,200 1,561,000 2,356,000 3,917,000 366,000 1,231,000 1,597,000 5,514,000 413,000 1,039,500 $1,452,500 396,000 1761,000 $1,157,000 590,000 322,000 $ 912,000 ABC Not-for-Profit XYZ Not-for-Profit $ 207,000 267,000 34,000 441,500 949,500 $ 358,000 99,200 152,000 190,500 799,700 267,000 2,610,000 3,177,000 6,054,000 $7,003,500 1,770,000 1,770,000 $2,569, 700 Statement of Net Assets Current assets Cash Short-term cash equivalents Supplies inventories Receivables Total current assets Noncurrent assets Noncurrent pledges receivable Endowment investments Land, buildings, and equipment (net) Total noncurrent assets Total assets Current liabilities Accounts payable Total current liabilities Noncurrent liabilities Notes payable Total noncurrent liabilities Total liabilities Net Assets Unrestricted Donor restricted for purpose Donor restricted for endowment Total net assets Total liabilities and net assets $ 25,000 25,000 $ 131,000 131,000 180,500 180,500 205,500 131,000 4,027,000 157,000 2,610,000 6,794,000 $6,999,500 2,366,500 72,200 0 2,438,700 $2,569, 700 Required: a. Calculate the following ratios (assume depreciation expense is $752,000 for both organizations ar 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.) XYZ Stronger Ratio ABC % % Ratios Program expense Fund-raising efficiency Days cash on hand Working capital (days) days days days days