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 9-8 contains an excerpt from Ten Peaks€™ 2013 annual report.

Required:
a. Calculate the accounts payable turnover ratio and accounts payable payment period for Ten Peaks. The company€™s cost of goods sold for its 2013 fiscal year was $47,662 thousand.
b. Calculate the company€™s current and quick ratio for 2012 and 2013. Comment on the year-over-year trend.

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TEN PEAKS COFFEE COMPANY INC.'S 2013 CONSOLIDATED STATEMENTS OF FINANCIAL POSITION TEN PEAKS COFFEE COMPANY INC. Consolidated Statements of Financial Position Tabular amounts in thousands of Canadian dollars, except per share and number of shares figures) as at December 31 2013 December 31 2012 Note Gurrent assets $6,463 4,972 236 152 2,594 14,417 Accounts receivable Prepaid expenses and other receivables Derivative assets $9,494 3,962 169 1,304 15,156 Total cument assets Non-current assets Plant and equipment Intangible assets Deferred tax assets Derivative assets 12,508 13,298 2,724 2,058 10 1,578 Total non-current assets 16,551 18,117 S 33,273 Total assets $ 30,968 Liabilities and shareholders' equity Current liabilities 12 Bank indebtedness Accounts payable Accrued liabilities Dividend payable Derivative liabilities Current income tax liabilities Current portion of other liabilities 6,983 1,559 1,066 417 S4,786 1,100 2 119 18 219 7,575 13 Total current liabilities 10,036