Analyze the Statement of Operation and Balance Sheet for Newport Hospital.(Refer to Exhibit 4-1 of your textbook)

• Is Newport Hospital profitable? Explain your rationale.
• Describe how effective Newport Hospital is when collecting receivables.
• Is Newport Hospital in a good position to pay expenses? Explain your rationale.
• Is Newport Hospital's plant and equipment in need of replacement? Explain your rationale.
• Is Newport Hospital in a good position to take on additional debt? Explain your rationale.