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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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