Using Exhibit 14-8 Lafayette Film Center Statement of Activities, calculate the following days and interpret them.

(1) Days of cash on hand in 2018

(2) Days of cash on hand in 2017

using this formula

Days of cash on hand

= (Cash + marketable securities) / [Operating expenses ? bad debt? depreciation) 365]

14-7 Lafayette Film Center Statements of Financial Position as of December 31, 2018 and 2017 Assets Current Assets 2018 2017 Cash and cash equivalents Grants receivable Inventory Other receivables Prepaid expenses 562,696 50,400 36,172 11,552 $ 75,582 174,662 137,858 59,508 37,624 Total Current Assets $ 736,402 409,652 Long-Term Assets Conditional promises to give Deposits Property and equipment, net 264,514 488,530 7,910 9,278,616 $ 9,602696 9,775,056 1,510 9,336,672 Total Long-Term Assets Total Assets $10,339,098 $10,184.708 Liabilities and Net Assets Current Liabilities Accounts payable Accrued expenses Deferred revenue Line of credit Current portion of capital lease obligations $ 108,214 $ 113,240 109,044 31,186 960,510 51,100 111,776 100,000 48,394 $1,260,054 $ 373,410 Total Current Liabilities Long-Term Liabilities 36,596 88,638 Capital lease obligations less current portion 1,296,650 $ 462,048 Total Liabilities Net assets 8,777,934 9,184,130 538,530 $ 9,042,448 9,722,660 Unrestricted 264,514 Temporarily Restricted Total Net Assets $10,339,098 $10,184.708 Total Liabilities and Net Assets The docompanying notes are an integral part of these statements