Presented below are financial statements (except cash flows) for two not-for-profit organizations. Neither organization has any permanently restricted net assets. 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 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 ABC Not-for-Profit XYZ Not-for-Profit Unrestricted Temporarily Restricted Unrestricted Temporarily Restricted $ 6,195,000 3,387,500 $ 756,000 182,000 $2,310,000 3,260,000 $1,031,000 18,100 462,000 10,062,600 (462,000) 396,000 557,000 6,127,000 (557,000) 474,000 6,221,000 1,565,000 1,262,000 2,556,000 7,483,000 4,121,000) 516,000 386,000 656,000 1,235,000 1,172,000 1,621,000 8,655,000 1,407,600 5,742,000 4,214,000 $ 5,621,600 396,000 765,000 $1,161,000 385,000 1,043,500 $1,428,500 474,000 326,000 $ 800,000 ABC Not-for-Profit XYZ Not-for-Profit $ 211,000 271,000 38,000 $ 362,000 99,600 156,000 445,500 965,500 271,000 2,650,000 3,181,000 1,774,000 6,102,000 194,500 812,100 $7,067,500 $ 29,000 29,000 184,500 1,774,000 $2,586,100 $ 135,000 135,000 184,500 213,500 135,000 4,031,000 2,370,500 161,000 80,600 2,650,000 6,842,000 $7,055,500 2,451,100 $2,586,100 Required: a. Calculate the following ratios (assume depreciation expense is $756,000 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)