1. Your analysis of the contributions receivable as of December 31, 20X4, determined that there were unrecognized contributions for the following: Unrestricted use Cancer research Purchase of equipment Permanently restricted endowment principal Total $ 41,400 11,500 21,700 31,900 $ 106,500 2. Short-term investments at year-end consist of $150,100 of funds without donor restrictions and $50,300 of funds restricted for future cancer research. All of the long-term investments are held in the permanently restricted endowment fund. 3. Land is carried at its current market value of $121,400. The original owner purchased the land for $70,100, and at the time of donation to the hospital, it had an appraised value of $95,100. 4. Buildings purchased 11 years ago for $604,500 had an estimated useful life of 30 years. Equipment costing $150,600 was purchased 7 years ago and had an expected life of 10 years. The controller had improperly increased the reported values of the buildings and equipment to their current fair value of $936,700 and had incorrectly computed the accumulated depreciation. 5. The board of directors voted on December 29, 20X4, to designate $100,900 of funds without donor restrictions invested in short- term investments for developing a drug rehabilitation center. Required: Prepare a balance sheet for Brookdale Hospital at December 31, 20X4. (Amounts to be deducted should be indicated with minus sign.) Answer is not complete. BROOKDALE HOSPITAL Balance Sheet December 31, 20X4 Assets Current Assets: Cash $ 100,800 Contributions receivable 106,500 Investments in marketable securities 200,400 Interest receivable 16,900 Accounts receivable 55,600 Inventory 36,300 $ 516,500 Total current assets Long-term assets: Building & equipment Accumulated depreciation Net investment in buildings and equipment Land Investments in marketable securities $ 755,100 (327,070) $ 428,030 95,100 301,000 824,130 $ 1,340,630 Total long-term assets Total assets Liabilities Accounts payable Mortgage payable $ 40,900 320,400 $361,300 Total liabilities Net assets: With donor restrictions Without donor restrictions 0 Total net assets Total liabilities and net assets $ 361,300 1. Your analysis of the contributions receivable as of December 31, 20X4, determined that there were unrecognized contributions for the following: Unrestricted use Cancer research Purchase of equipment Permanently restricted endowment principal Total $ 41,400 11,500 21,700 31,900 $ 106,500 2. Short-term investments at year-end consist of $150,100 of funds without donor restrictions and $50,300 of funds restricted for future cancer research. All of the long-term investments are held in the permanently restricted endowment fund. 3. Land is carried at its current market value of $121,400. The original owner purchased the land for $70,100, and at the time of donation to the hospital, it had an appraised value of $95,100. 4. Buildings purchased 11 years ago for $604,500 had an estimated useful life of 30 years. Equipment costing $150,600 was purchased 7 years ago and had an expected life of 10 years. The controller had improperly increased the reported values of the buildings and equipment to their current fair value of $936,700 and had incorrectly computed the accumulated depreciation. 5. The board of directors voted on December 29, 20X4, to designate $100,900 of funds without donor restrictions invested in short- term investments for developing a drug rehabilitation center. Required: Prepare a balance sheet for Brookdale Hospital at December 31, 20X4. (Amounts to be deducted should be indicated with minus sign.) Answer is not complete. BROOKDALE HOSPITAL Balance Sheet December 31, 20X4 Assets Current Assets: Cash $ 100,800 Contributions receivable 106,500 Investments in marketable securities 200,400 Interest receivable 16,900 Accounts receivable 55,600 Inventory 36,300 $ 516,500 Total current assets Long-term assets: Building & equipment Accumulated depreciation Net investment in buildings and equipment Land Investments in marketable securities $ 755,100 (327,070) $ 428,030 95,100 301,000 824,130 $ 1,340,630 Total long-term assets Total assets Liabilities Accounts payable Mortgage payable $ 40,900 320,400 $361,300 Total liabilities Net assets: With donor restrictions Without donor restrictions 0 Total net assets Total liabilities and net assets $ 361,300