26 Jun My #2
Complete the following attached Excel template utilizing the figures below.
Part 2:
Financial Statements Instructions: You will write a paper on two financial statements. Below is Statement of Financial Position (balance sheet), table 12-1. Also, table 12-3 contains the Statement of Operations. Analyze both financial statements looking at the increases and decreases from the previous years, and
summarize your findings in a 250-500 word report.
Table 12-3 Community Hospital Statement of Operations For the Years Ended December 31, 2013 and December 31, 2012 (in ’000)
| 2013 | 2012 | |
| Revenues | ||
| Net Patient Services Revenue | $ 180,000 | $ 159,000 |
| Premium Revenue | 29,000 | 20,000 |
| Other Operating Revenue | 15,000 | 12,000 |
| Total Revenues From Operations | $ 224,000 | $ 191,000 |
| Expenses | ||
| Salaries and Benefits | $ 75,000 | $ 68,000 |
| Medical Supplies and Drugs | 95,000 | 87,000 |
| Insurance | 15,000 | 12,000 |
| Depreciation | 20,000 | 16,000 |
| Interest | 2,000 | 3,000 |
| Provision for Bad Debts | 5,000 | 3,000 |
| Total Expenses From Operations | $ 212,000 | $ 189,000 |
| Excess of Revenues over Expenses | $ 12,000 | $ 2,000 |
| Unrestricted Contributions | 56,000 | 40,000 |
| Transfers to Parent | (40,000) | (35,000) |
| Increase/(Decrease) in Unrestricted Net Assets | $ 28,000 | $ 7,000 |
Table 12-1 Community Hospital Statement of Financial Position As of December 31, 2013 and December 31, 2012 (in ’000)
| 2013 | 2012 | 2013 | 2012 | ||
| ASSETS | LIABILITIES & NET ASSETS | ||||
| Current Assets | Current Liabilities | ||||
| Cash | $ 16,000 | $ 14,000 | Wages Payable | $ 6,000 | $ 4,000 |
| Marketable Securities | 24,000 | 18,000 | Accounts Payable | 58,000 | 50,000 |
| Accounts Receivables, Net | 44,000 | 60,000 | Unearned Revenue | 30,000 | 24,000 |
| Inventory | 98,000 | 80,000 | Total Current Liabilities | $ 94,000 | $ 78,000 |
| Prepaid Expenses | 6,000 | 4,000 | Long-Term Liabilities | ||
| Total Current Assets | $ 188,000 | $ 176,000 | Mortgage Payable | $ 90,000 | $ 100,000 |
| Fixed Assets | Bond Payable | 200,000 | 200,000 | ||
| Buildings and Equipment | $ 300,000 | $ 240,000 | Other | 78,000 | 70,000 |
| Less Accumulated | Total Long-Term Liabilities | $ 368,000 | $ 370,000 | ||
| Depreciation | 80,000 | 60,000 | Net Assets | ||
| Net Buildings and Equipment | $ 220,000 | $ 180,000 | Unrestricted | $ 66,000 | $ 38,000 |
| Land | 100,000 | 100,000 | Temporarily Restricted | 20,000 | 20,000 |
| Total Fixed Assets | $ 320,000 | $ 280,000 | Permanently Restricted | 50,000 | 50,000 |
| Goodwill | $ 90,000 | $ 100,000 | Total Net Assets | $ 136,000 | $ 108,000 |
| TOTAL ASSETS | $ 598,000 | $ 556,000 | TOTAL LIABILITIES & NET ASSETS | $ 59 |
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