Ten Peaks Coffee Company Inc. is a Burnaby, British Columbia-based specialty coffee company. The company provides...
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Ten Peaks Coffee Company Inc. is a Burnaby, British Columbia-based specialty coffee company. The company provides green coffee decaffeination services as well as green coffee handling and storage services. Exhibit 9.13 contains an excerpt from Ten Peaks' 2016 annual report. EXHIBIT 9.13 Ten Peaks Coffee Company Inc.'s 2016 Consolidated Statements of Financial Position TEN PEAKS COFFEE COMPANY INC. Consolidated Statement of Financial Position (Tabular amounts in thousands of Canadian dollars) as at Assets December December Note 31, 2016 31, 2015 Current assets Inventories 6 $11,574 Accounts receivable 7 11,707 $18,960 7,200 Prepaid expenses and other receivables 524 462 Short-term investments 8 12,700 - Derivative assets 9 95 354 Cash and cash equivalents 25 12,497 9,065 Total current assets 49,097 36,041 Non-current assets Plant and equipment Intangible assets Deferred tax assets Total non-current assets Total assets Liabilities and shareholders' equity 10 16,278 12,756 11 1,687 1,947 12 837 944 18,802 15,647 $67,899 $51,688 Current liabilities Accounts payable 2,797 1,722 Accrued liabilities 1,166 1,455 Dividend payable 20 20 565 563 Derivative liabilities 9 815 2,025 Current portion of other liabilities 15 488 869 Total current liabilities Non-current liabilities Derivative liabilities Deferred tax liabilities Convertible debenture 5,831 6,634 6 3,896 1,695 12 1,676 604 14 11,283 Other liabilities Asset retirement obligation 16 56 15 81 69 797 702 Total non-current liabilities 17,733 3,070 Total liabilities 23,564 9,704 Shareholders' equity Share capital Share-based compensation reserve Accumulated other comprehensive income Retained earnings (deficit) 17 17 43,496 43,448 63 72 419 357 (1,536) Total equity 44,335 41,984 Total liabilities and shareholders' equity $67,899 $51, 688 Calculate the accounts payable turnover ratio and accounts payable payment period for Ten Peaks. The company's cost of goods sold for its 2016 fiscal year was $69,877 thousand. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Accounts payable turnover ratio Average payable payment period eTextbook and Media times days Calculate the company's current and quick ratio for 2015 and 2016. (Round answers to 1 decimal place, e.g. 15.1.) Current ratio Quick ratio 2016 2015 Current ratio Quick ratio Comment on the year-over-year trend. Ten Peaks' 2016 current ratio eTextbook and Media and quick ratio over the 2015 results. Ten Peaks Coffee Company Inc. is a Burnaby, British Columbia-based specialty coffee company. The company provides green coffee decaffeination services as well as green coffee handling and storage services. Exhibit 9.13 contains an excerpt from Ten Peaks' 2016 annual report. EXHIBIT 9.13 Ten Peaks Coffee Company Inc.'s 2016 Consolidated Statements of Financial Position TEN PEAKS COFFEE COMPANY INC. Consolidated Statement of Financial Position (Tabular amounts in thousands of Canadian dollars) as at Assets December December Note 31, 2016 31, 2015 Current assets Inventories 6 $11,574 Accounts receivable 7 11,707 $18,960 7,200 Prepaid expenses and other receivables 524 462 Short-term investments 8 12,700 - Derivative assets 9 95 354 Cash and cash equivalents 25 12,497 9,065 Total current assets 49,097 36,041 Non-current assets Plant and equipment Intangible assets Deferred tax assets Total non-current assets Total assets Liabilities and shareholders' equity 10 16,278 12,756 11 1,687 1,947 12 837 944 18,802 15,647 $67,899 $51,688 Current liabilities Accounts payable 2,797 1,722 Accrued liabilities 1,166 1,455 Dividend payable 20 20 565 563 Derivative liabilities 9 815 2,025 Current portion of other liabilities 15 488 869 Total current liabilities Non-current liabilities Derivative liabilities Deferred tax liabilities Convertible debenture 5,831 6,634 6 3,896 1,695 12 1,676 604 14 11,283 Other liabilities Asset retirement obligation 16 56 15 81 69 797 702 Total non-current liabilities 17,733 3,070 Total liabilities 23,564 9,704 Shareholders' equity Share capital Share-based compensation reserve Accumulated other comprehensive income Retained earnings (deficit) 17 17 43,496 43,448 63 72 419 357 (1,536) Total equity 44,335 41,984 Total liabilities and shareholders' equity $67,899 $51, 688 Calculate the accounts payable turnover ratio and accounts payable payment period for Ten Peaks. The company's cost of goods sold for its 2016 fiscal year was $69,877 thousand. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Accounts payable turnover ratio Average payable payment period eTextbook and Media times days Calculate the company's current and quick ratio for 2015 and 2016. (Round answers to 1 decimal place, e.g. 15.1.) Current ratio Quick ratio 2016 2015 Current ratio Quick ratio Comment on the year-over-year trend. Ten Peaks' 2016 current ratio eTextbook and Media and quick ratio over the 2015 results.
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