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a. Using the data below as of 12/31/17 and the format found in Exhibit 4.1, create a Balance Sheet for XYZ Hospital for 12/31/17 Based

a. Using the data below as of 12/31/17 and the format found in Exhibit 4.1, create a Balance Sheet for XYZ Hospital for 12/31/17 Based upon your Balance Sheet, answer the following in the space provided:
Accounts payable 401,760
Accrued expenses 485,520
Cash 968,160
Inventory 295,600
Long-term debt 6,825,760
Long-term investments 3,844,720
Net patient accounts receivable 2,280,720 b. How much does the hospital own?
Net property and equipment 4,196,000 c. What % of the hospital's assets are current?
Notes payable 346,720 d. How much does the hospital owe to others?
Other long-term liabilities 420,000 e. What are current assets minus current liabilities?
Short-term investments 800,000 f. What is the hospital's net assets (equity)?
g. If the hospital earned $250,000 in 2017, what was the net assets (equity) balance on 12/31/16?
h. If the net assets (equity) balance was $375,000 on 12/31/16, what was the hospital's net income in 2017?
** use the space below to create the Balance Sheet:

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