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1) Perform the horizontl analysis for following TFHS balance sheet and incomestatment for 2021-2022 ? 2) Calculate following financial ratios? a) Total margin b) Operating
1) Perform the horizontl analysis for following TFHS balance sheet and incomestatment for 2021-2022 ? | |||||
2) Calculate following financial ratios? | |||||
a) Total margin | |||||
b) Operating margin | |||||
c) Return on assets | |||||
d) Retuen on equity | |||||
e) current ratio | |||||
f) Days cash on hand | |||||
g) Debt ratio | |||||
h) Debt-to-capitalization ratio | |||||
i) TIE ratio | |||||
Tahoe Forest Hospital District Combined Statements of Balance Sheet | |||||
2022 | 2021 (As restated) | ||||
Tahoe Forest Hospital District | Truckee | Tahoe Forest Hospital District | Truckee | ||
Surgery Center, | Surgery Center, | ||||
ASSETS | LLC | LLC | |||
Current assets | |||||
Cash and cash equivalents | $25,418,950 | $233,298 | $91,298,018 | $26,853 | |
Patient accounts receivable, net of allowances for doubtful accounts of $9,901,616 and $103,209 in 2022 and $7,537,588 and $93,266 in 2021 | 41,866,438 | 424,536 | 35,773,985 | 358,190 | |
Other receivables | 14,271,296 | - | 13,020,382 | - | |
Assets limited as to use - required for current liabilities | 10,003,370 | - | 9,882,909 | - | |
Estimated amounts due from third-party payors | 3,042,312 | - | - | - | |
Inventories | 4,469,265 | - | 4,289,922 | - | |
Prepaid expenses and deposits | 2,661,331 | 164,396 | 2,228,183 | 68,063 | |
Total current assets | 101,732,962 | 822,230 | 156,493,399 | 453,106 | |
Assets limited as to use, net of current | 128,713,679 | - | 71,599,135 | - | |
Right-to-use assets, net of accumulated amortization | 9,151,929 | - | 6,480,830 | - | |
Capital assets | |||||
Nondepreciable | 28,115,599 | - | 14,541,767 | - | |
Depreciable, net of accumulated depreciation | 160,424,964 | 833,318 | 161,565,109 | 757,440 | |
188,540,563 | 833,318 | 176,106,876 | 757,440 | ||
Other assets | |||||
Beneficial interest in trusts | 1,753,645 | - | 1,952,812 | - | |
Other noncurrent receivables | 988,581 | 20,256 | 869,252 | 20,256 | |
Total assets | 430,881,359 | 1,675,804 | 413,502,304 | 1,230,802 | |
DEFERRED OUTFLOWS OF RESOURCES | |||||
Deferred loss on defeasance, net | 5,069,219 | - | 5,384,615 | - | |
Accumulated decrease in fair value of hedging derivative | 660,160 | - | 1,387,922 | - | |
Total deferred outflows of resources | 5,729,379 | - | 6,772,537 | - | |
LIABILITIES | |||||
Current liabilities | |||||
Current maturities of long-term debt and capital lease obligations | 5,974,499 | - | 5,618,136 | - | |
Current maturities of lease liabilities | 1,565,219 | - | 1,144,564 | - | |
Accounts payable and accrued expenses | 12,213,152 | 46,977 | 7,365,875 | 22,261 | |
Accrued payroll and related expense | 26,126,668 | 43,075 | 24,222,769 | 24,429 | |
Medicare accelerated payments | 5,563,499 | - | 19,052,194 | - | |
Estimated claims incurred but not reported | 7,253,703 | - | 7,288,804 | - | |
Estimated amounts due to third-party payors | - | - | 6,703,302 | - | |
Other accrued expenses | 59,388 | 3,416 | 9,358 | 4,908 | |
Accrued interest | 1,859,100 | - | 1,792,526 | - | |
Total current liabilities | 60,615,228 | 93,468 | 73,197,528 | 51,598 | |
Long-term debt and capital lease obligations, net of current portion | 118,299,002 | - | 124,461,117 | - | |
Lease liabilities, net of current portion | 7,874,186 | - | 5,476,519 | - | |
Derivative instrument liability | 660,160 | - | 1,387,922 | - | |
Total liabilities | 187,448,576 | 93,468 | 204,523,086 | 51,598 | |
NET POSITION | |||||
Net investment in capital assets | 74,154,611 | - | 55,718,273 | - | |
Restricted - expendable | 6,538,072 | - | 4,969,414 | - | |
Restricted - nonexpendable | 79,109 | - | 74,809 | - | |
Unrestricted | 168,390,370 | 1,582,336 | 154,989,259 | 1,179,204 | |
Total net position | $249,162,162 | $1,582,336 | $215,751,755 | $1,179,204 | |
Tahoe Forest Hospital District Combined Statements of Operations | |||||
2022 | 2021 (As restated) | ||||
Tahoe Forest | Truckee | Tahoe Forest | Truckee | ||
Hospital | Surgery Center, | Hospital | Surgery Center, | ||
Operating revenues | District | LLC | District | LLC | |
Net patient service revenue (net of provision for bad debts of $11,803,966 and $15,119 in 2022 and $21,054,750 and $11,167 in 2021) | $263,836,447 | $1,790,670 | $237,686,222 | $1,344,346 | |
Other operating revenue | 13,979,271 | - | 11,751,964 | - | |
Total operating revenues | 277,815,718 | 1,790,670 | 249,438,186 | 1,344,346 | |
Operating expenses | |||||
Salaries and wages | 99,484,586 | 794,550 | 88,958,242 | 523,506 | |
Employee benefits | 48,215,159 | 110,427 | 45,691,609 | 75,186 | |
Professional fees | 18,847,495 | 8,200 | 16,988,355 | 5,585 | |
Supplies | 36,924,954 | 483,199 | 31,196,037 | 573,161 | |
Purchased services | 25,668,579 | 68,802 | 23,600,665 | 17,442 | |
Depreciation and amortization | 15,363,541 | 47,835 | 14,798,038 | 40,043 | |
Insurance | 2,466,951 | 4,944 | 1,960,625 | 9,862 | |
Other | 7,768,620 | 431,077 | 6,845,753 | 363,686 | |
Total operating expenses | 254,739,885 | 1,949,034 | 230,039,324 | 1,608,471 | |
Income (loss) from operations | 23,075,833 | -158,364 | 19,398,862 | -264,125 | |
Nonoperating revenues (expenses) | |||||
Property tax revenue | 9,150,835 | - | 8,432,091 | - | |
Property tax revenue - general obligation bonds | 5,568,851 | - | 4,900,434 | - | |
Contributions, net | 4,128,543 | - | 1,954,867 | - | |
Interest income | 692,919 | - | 713,109 | - | |
Rental income | 669,658 | - | 645,750 | - | |
Gain on disposal of assets | 36,801 | - | - | - | |
Interest expense | -4,758,404 | - | -4,921,529 | - | |
Unrealized loss on investments | -3,514,449 | - | - | - | |
Other nonoperating (loss) income | -1,078,835 | 151 | -3,225,187 | - | |
Total nonoperating revenues | 10,895,919 | 151 | 8,499,535 | - | |
Income (loss) before other revenue, expenses, gains, and losses | 33,971,752 | -158,213 | 27,898,397 | -264,125 | |
Capital transfers | -561,345 | 561,345 | -496,753 | 496,753 | |
Increase in net position | 33,410,407 | 403,132 | 27,401,644 | 232,628 | |
Net position, beginning of year | 215,751,755 | 1,179,204 | 188,350,111 | 946,576 | |
Net position, end of year | $249,162,162 | $1,582,336 | $215,751,755 | $1,179,204 | |
Step by Step Solution
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Step: 1
1 Horizontal Analysis To perform horizontal analysis we will compare the figures for 2022 with those for 2021 and calculate the percentage change Balance Sheet Item 2022 2021 Change Cash and cash equi...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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