Statement of Net Assets	ABC Not-for-Profit						XYZ Not-for-Profit
Current assets
Cash		$	206,000					$	357,000
Short-term cash equivalents			266,000						99,100
Supplies inventories			33,000						151,000
Receivables			440,500						189,500
Total current assets			945,500						796,600
Noncurrent assets
Noncurrent pledges receivable			266,000
Endowment investments			2,600,000
Land, buildings, and equipment (net)			3,176,000						1,769,000
Total noncurrent assets			6,042,000						1,769,000
Total assets		$	6,987,500					$	2,565,600
Current liabilities
Accounts payable		$	24,000					$	130,000
Total current liabilities			24,000						130,000
Noncurrent liabilities
Notes payable			179,500
Total noncurrent liabilities			179,500
Total liabilities			203,500						130,000
Net Assets
Unrestricted			4,026,000						2,365,500
Donor restricted for purpose			156,000						70,100
Donor restricted for endowment			2,600,000						0
Total net assets			6,782,000						2,435,600
Total liabilities and net assets		$	6,985,500					$	2,565,600

THIS IS PART OF MY PREVIOUS QUESTION! Calculate the following ratios (assume depreciation expense is $751,000 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.)