27 Jul Sharpe Medical Center Sharpe Medical Center Is A Large Midwestern Acute Care And Ambulatory Facility Serving An Urban City Population.
Sharpe Medical Center Sharpe Medical Center is a large Midwestern acute care and ambulatory facility serving an urban city population. Givens (in ‘000s): Inventory $4,000 Patient revenues (net of contractual allowance) $302,000 Gross plant, property, and equipment $375,000 Net accounts receivable $85,000 Ending balance, temporarily restricted net assets $6,000 Wages payable $6,600 Long-term debt $218,400 Supply expense $34,000 Net assets released from temporary restriction $7,000 Depreciation expense $44,000 General expense $95,000 Provision for bad debt expense $4,500 Cash and cash equivalents $18,000 Transfer to parent corporation ($3,900) Beginning balance, unrestricted net assets $239,400 Accounts payable $11,000 Beginning balance, temporarily restricted net assets $13,000 Interest expense $6,000 Labor expense $123,000 Accumulated depreciation $22,000 Long-term investments $20,000 Ending balance, unrestricted net assets $238,000 To prepare for this Assignment: Examine the data from Sharpe Medical Center. Reflect on how you will use this data to develop a Balance Sheet, Profit and Loss Statement, and Cash Flow Statement. Refer to the course text for additional guidance. © 2015 Laureate Education, Inc. Page 2 of 2 The Assignment: Complete a Balance Sheet, Profit and Loss Statement (Statement of Operations), and Cash Flow Statement (Statement of Changes in Net Assets) using the “Week 7 Financial Statement Excel Template”.
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