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 Note December 31, 2016 December 31, 2015 6 7 $11,574 11,707 524 $18,960 7,200 462 Assets Current assets Inventories Accounts receivable Prepaid expenses and other receivables Short-term investments Derivative assets Cash and cash equivalents Total current assets Non-current assets 8 12,700 95 9 354 25 12,497 49,097 9,065 36,041 MacBook All SOME 10 11 12 16,278 1,687 837 18,802 $67,899 12,756 1,947 944 15,647 $51,688 1,722 20 TULI Leta Non-current assets Plant and equipment Intangible assets Deferred tax assets Total non-current assets Total assets Liabilities and shareholders' equity Current liabilities Accounts payable Accrued liabilities Dividend payable Derivative liabilities Current portion of other liabilities Total current liabilities Non-current liabilities Derivative liabilities Deferred tax liabilities Convertible debenture Other liabilities Asset retirement obligation Total non-current liabilities 2,797 1,166 565 815 488 1,455 563 2,025 869 9 15 5,831 6,634 9 1,695 604 12 3,896 1,676 11,283 81 14 69 15 16 797 702 17,733 3,070 MacBook Air 17.733 3,070 9,704 23,564 17 Total non-current liabilities Total liabilities Shareholders' equity Share capital Share-based compensation reserve Accumulated other comprehensive income Retained earnings (deficit) Total equity Total liabilities and shareholders' equity 43,496 63 43,448 72 419 357 44,335 $67,899 (1,536) 41,984 $51, 688 Your answer is partially correct. 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. es. 152 Use 365 days for calculation) 273 times Accounts payable turnover ratio Average payable payment period 11B days MacBook At Solution Your answer is partially correct. Calculate the company's current and quick ratio for 2015 and 2016. (Round answers to 1 decimal place, eg. 15.1.) 2016 2015 Current ratio 2.1 5.4 Quick ratio 20.1 1.8 Comment on the year-over-year trend. improved improved over the 2015 results and quick ratio Ten Peaks 2016 current ratio e Textbook and Media Solution
