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Healthcare Applications: A Casebook in Accounting and Financial Management

Summary transaction data for the entire fiscal year $2016$ follows:

The hospital earned $$100,000,000$ in revenues, of which $95$ percent was collected in cash and $5$ percent remained in receivables and uncollected.

Operating expenses totaled $$95,000,000,$ of which all but $$4,000,000$ has been paid by fiscal year$-$end.

A $$5,000,000$ payment on the principal of the bonds payable was made.

$$2,000,000$ of new equipment was purchased for cash.

Assignment

Update the financial statements for the $2016$ transaction data while ignoring any other possible changes in the accounts or adjusting entries. Prepare the following:

A fiscal $2016$ operations statement

A fiscal $2016$ cash flow statement using the assumption that all $2014$ and $2015$ current assets were held in the form of cash and cash equivalents

A December $31,2016,$ balance sheet