CP 8-7 Cash to monthly cash expenses ratio
OccuLogix, Inc., is a health care company that specializes in developing diagnostic devices for eye disease. OccuLogix reported the following data (in thousands) for the years ending December 31, 2008, 2007, and 2006:
| 2008 | 2007 | 2006 | |
| Cash and cash equivalents | $2,565 | $2,236 | $5,741 |
| Net cash fl ows from operations | (9,434) | (17,217) | (14,548) |
1. Determine the monthly cash expenses for 2008, 2007, and 2006. Round to one decimal place.
2. Determine the ratio of cash to monthly cash expenses as of December 31, 2008, 2007, and 2006. Round to one decimal place.
3. Based on (1) and (2), comment on OccuLogix’s ratio of cash to monthly operating expenses for 2008, 2007, and 2006.
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