Analytical Assignment 1: Silverlake Hospital Account Balances

Analytical Assignment 1: Given below is a list of account balances for Silverlake Hospital as of December 31, 2020. Prepare a balance sheet as of December 31, 2020, in proper form. (Hint: You will need to compute the net assets account. Assume that all net assets at the beginning of the year are unrestricted.) Silverlake Hospital Account Balances \begin{tabular}{|c|c|} \hline Account & Balance \\ \hline Gross plant \& equipment & $6,000,000 \\ \hline Accounts payable & 130,000 \\ \hline Inventories & 100,000 \\ \hline Other current liabilities & 70,000 \\ \hline Net accounts receivable & 650,000 \\ \hline Accrued expenses & 100,000 \\ \hline Accumulated depreciation & 200,000 \\ \hline Long-term debt & 5,000,000 \\ \hline \end{tabular}