Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

$4,802,080 Primrose Community Clinic Balance Sheet As of December 31, 2021 Assets Current Assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid insureance Total

image text in transcribed

image text in transcribed

$4,802,080 Primrose Community Clinic Balance Sheet As of December 31, 2021 Assets Current Assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid insureance Total current assets Long-Term Assets Land Buildings (net) Equipment (net) Investments Total Assets $600,300 $400.140 $137,600 $112,510 $1.250.550 Primrose Community Clinic Income Statement For the year ended December 31, 2021 Revenues Net patient service revenue Operating Expenses Medical surgical services $2,258.180 Therapy services $903,272 Other professional services $993,600 Support services $225,820 General services $135,488 Depreciation $45,616 Operating Income Other Income and Expenses Interest income $60,026 Interest expenses $37,500 Net Income ($4,561,976) $240.104 $350,200 $525,200 $612,760 $262.590 $3,001,300 $22.526 $262,630 Liabilities and Fund Balance Current Liabilities Accounts payable Interest payable $375,200 $41,650 Additional Information: Percentage of revenues that were on credit. Maximum annual debt service......... 90% $65,000 $375,200 $41,650 $416,850 Additional Information: Percentage of revenues that were on credit. Maximum annual debt service. 90% $65,000 Liabilities and Fund Balance Current Liabilities Accounts payable Interest payable Total current liabilities Long-Term Liabilities Notes Long-term debt Total long-term liabilities Fund Balance Unrestricted fund balance Restricted fund balance Total fund balance Total Liabilities and Fund Balance $156,700 $626,970 $783,670 $960,416 $840.364 $1,800.780 $3,001,300 Calculate the following ratios: (Round your answer to 2 decimal places, for example, 12.35 and 1.23%) [1] Current Ratio [2] Quick Ratio [3] Days Cash on Hand [4] Days in Receivables [5] Return on Assets [6] Operating Margin Ratio [7] Liabilities to Fund Balance [8] Debt Service Coverage Ratio

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Strategy, Governance And Ratings

Authors: P. Molyneux

3rd Edition

0230313345, 9780230313347

More Books

Students also viewed these Accounting questions