Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a. Using the data below (given in thousands), create an Income Statement for High Plains Medical Center for the 2020 fiscal year. Use Exhibit

a. Using the data below (given in thousands), create an Income Statement for High Plains Medical Center for 

a. Using the data below (given in thousands), create an Income Statement for High Plains Medical Center for the 2020 fiscal year. Use Exhibit 3.1 as a guide, but, note that the categories may vary somewhat from this example. Depreciation expense General/administrative expenses Interest expense Investment income Net patient services revenue Other revenue Purchased services Salaries and benefits INCOME STATEMENT (in thousands) 90,000 70,000 20,000 40,000 400,000 10,000 90,000 150,000 Based upon your Income Statement, answer the following questions: b. How much did the hospital earn or lose from its operations? C. What is the hospital's bottom line for the year? d. What % of net patient revenue is spent on salaries & benefits? e. What % of net operating revenue is derived from patient revenue? f. What was the approximate cash flow for the year?

Step by Step Solution

3.33 Rating (144 Votes )

There are 3 Steps involved in it

Step: 1

Income Statement for High Plains Medical Center for the 2020 fiscal year in thousands a Operating Revenues Net Patient Services Revenue 400000 Other R... 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

Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

9th Edition

1337614689, 1337614688, 9781337668262, 978-1337614689

More Books

Students also viewed these Finance questions