8 (1)Provide an explanation of the concept of phys 9.) (I pts) For the fiscal year ending 12/31/11 Billed charges $100,000 Insurance and patient collections/payments $60,000 Insurance Discounts $30,000 Patient bad debts write off $5,000 Charity Care writes off $5,000 Collection ratiox 10. (1) Balance Sheet, Practice OB/GYN, March 31, 2013 $140,000 Assets Liabilities Owners Equity $80,000 X 11 ) Income Statement, Practice Internal Medicine, March 31, 2013 Net Collections $400,000 Variable Expenses S100,000 Fixed Expenses X Net Income $40,000 12.) (1 pts) Cash Flow Statement, cash accounting basis, Month end Feb. 29, 2016 Beginning Cash Balance, Feb.1 100,000 DR CR Deposit, Feb. 11 Payment for supplies, Feb. 15 Payment for Payroll, Feb 18 Deposit, Feb. 28 $30,000 $20,000 $70,000 $80,000 Ending Cash Balance, Feb. 29, 2016