Question
Are my answered questions correct? Can you help me solve the unanswered questions? Below are 5 financial documents that are needed to answer 16 questions.
Are my answered questions correct? Can you help me solve the unanswered questions? Below are 5 financial documents that are needed to answer 16 questions.
Riverside Memorial | |||
Year Ended As of December 31, 2019 | |||
Cash Flows From Operating Activities | |||
Operating Income | $ 6,474 | ||
Adjustments: | |||
Depreciation | $ 4,130 | ||
Increase in Accounts Receivable | $ (1,102) | ||
Increase in Inventories | $ (195) | ||
Decrease in Accounts Payable | $ (438) | ||
Increase in Accrued Expenses | $ 229 | ||
Net Cash Flow from Operations | $ 9,098 | ||
Cash Flow From Investing Activities | |||
Investment in Property and Equipment | $ (4,293) | ||
Investment in Short-Term Securities | $ (2,000) | ||
Net Cash Flow from Investing | $ (6,293) | ||
Cash Flows From Financing Activities: | |||
Nonoperating Income | $ 2,098 | ||
Repayment of Long-Term Debt | $ (2,150) | ||
Repayment of Notes Payable | $ (3,262) | ||
Capital Lease Principal Repayment | $ (323) | ||
Net Cash Flow From Investing | $ (3,637) | ||
Net Increase (Decrease) in Cash and Equivalents | $ (832) | ||
Beginning Cash and Equivalents | $ 3,095 | ||
Ending Cash and Equivalents | $ 2,263 |
Riverside Memorial | ||||
Year Ended As of December 31, 2019 and 2018 | ||||
Revenues: | 2019 | 2018 | ||
Patient Service Revenue | $ 106,502 | $ 95,398 | ||
Less: Provision for Bad Debts | $ 3,428 | $ 3,519 | ||
Net Patient Service Revenue | $ 103,074 | $ 91,879 | ||
Premium Revenue | $ 5,232 | $ 5,622 | ||
Other Revenue | $ 3,644 | $ 6,014 | ||
Net Operating Revenues | $ 111,950 | $ 103,515 | ||
Expenses | ||||
Nursing Services | $ 58,285 | $ 56,752 | ||
Dietary Services | $ 5,424 | $ 4,718 | ||
General Services | $ 13,198 | $ 11,655 | ||
Administrative Services | $ 11,427 | $ 11,585 | ||
Employee Health and Welfare | $ 10,250 | $ 10,705 | ||
Malpractice Insurance | $ 1,420 | $ 1,304 | ||
Depreciation | $ 4,130 | $ 4,025 | ||
Interest Expense | $ 1,564 | $ 1,543 | ||
Total Expenses | $ 105,698 | $ 102,287 | ||
Operating Income | $ 6,252 | $ 1,228 | ||
Non-operating Income | $ 2,098 | $ 1,995 | ||
Net Income | $ 8,350 | $ 3,223 |
Riverside Memorial | |||
As of December 31, 2019 and 2018 | |||
Balance Sheet | |||
2019 | 2018 | ||
Cash and Equivalents | $ 2,163 | $ 2,895 | |
Short-Term Investments | $ 4,000 | $ 3,022 | |
Net Patient Accounts Receivable | $ 21,840 | $ 20,701 | |
Inventories | $ 3,177 | $ 2,982 | |
Total Current Assets | $ 31,180 | $ 29,600 | |
Gross Property and Equipment | $ 145,158 | $ 140,865 | |
Accumulated Depreciation | $ 25,160 | $ 21,030 | |
Net Property and Equipment | $ 119,998 | $ 119,835 | |
Total Assets | $ 151,178 | $ 149,435 | |
Accounts Payable | $ 4,607 | $ 4,945 | |
Accrued Expenses | $ 5,650 | $ 5,421 | |
Notes Payable | $ 2,975 | $ 6,200 | |
Total Current Liabilities | $ 13,232 | $ 16,566 | |
Long-Term Debt | $ 28,750 | $ 30,900 | |
Capital Lease Obligations | $ 1,832 | $ 3,177 | |
Total Long-Term Liabilities | $ 30,582 | $ 34,077 | |
Net Assets (Equity) | $ 107,364 | $ 98,792 | |
Total Liabilities and Net Assets | $ 151,178 | $ 149,435 |
#1. Using "Chapter 17 - Financials in Excel," what is the Return on Assets Ratio for Riverside Memorial in 2018? ROA=Return on Assets = Net Income / Total Assets= 5.5% #2. Using "Chapter 17 - Financials in Excel," what is the Current Ratio for Riverside Memorial in 2018? Current Ratio= Current Assets / Current Liabilities= 1.8 #3. Using "Chapter 17 - Financials in Excel," what is the Days Cash on Hand for Riverside Memorial in 2018? #4. Using "Chapter 17 - Financials in Excel," what is the Average Collection Period / Days in Accounts Receivable for Riverside Memorial in 2018? #5. Using "Chapter 17 - Financials in Excel," what is the Debt Ratio for Riverside Memorial in 2018? Debt Ratio = Total Debt / Total Assets=1.71 #6. Using "Chapter 17 - Financials in Excel," what is the Debt to Equity Ratio for Riverside Memorial in 2018? Debt to Equity Ratio = Total Debt / Total Equity= 0.51 #7. Using "Chapter 17 - Financials in Excel," what is the Times Interest Earned Ratio for Riverside Memorial in 2018?
Times Interest Earned Ratio = Earnings Before Interest and Taxes (EBIT)/ Interest Expense
#8. Using "Chapter 17 - Financials in Excel," what is the Fixed Assets Turnover Ratio for Riverside Memorial in 2018? Fixed Asset Turnover = Total Revenue / Net Fixed Assets=1.1
The Heart Hospital | |||
As of September 30, 2019 (in thousands) | |||
Balance Sheet | |||
2019 | |||
Current Assets | |||
Cash | $ 15,500 | ||
Accounts Receivable, Net | $ 5,941 | ||
Medical Supplies Inventory | $ 1,111 | ||
Prepaid Expense and Other Current Assets | $ 1,429 | ||
Total Current Assets | $ 23,981 | ||
Property, Plant and Equipment, Net | $ 34,200 | ||
Other Assets | $ 901 | ||
Total Assets | $ 59,082 | ||
Current Liabilities | |||
Accounts Payable | $ 2,231 | ||
Accrued Compensation and Benefits | $ 2,443 | ||
Other Accrued Liabilities | $ 2,843 | ||
Current Portion of Long-Term Debt | $ 2,064 | ||
Total Current Liabilities | $ 9,581 | ||
Long-Term Debt | $ 22,071 | ||
Total Liabilities | $ 31,652 | ||
Owners' Equity | $ 27,430 | ||
Total Liabilities and Owners' Equity | $ 59,082 |
The Heart Hospital | ||
Statement of Operations | ||
Year Ended September, 30, 2019 (in thousands) | ||
Revenues: | ||
Patient Service Revenue net of Discounts and Allowances | $ 80,550 | |
Provision for Bad Debt | $ (2,300) | |
Net Patient Service Revenue | $ 78,250 | |
Operating Expenses: | ||
Personnel Expense | $ 21,707 | |
Medical Supplies Expense | $ 16,047 | |
Other Operating Expense | $ 9,721 | |
Depreciation Expense | $ 2,625 | |
Interest Expense | $ 1,322 | |
Total Operating Expense | $ 51,422 | |
Income from Operations | $ 26,828 | |
Non-Operating Income | $ 650 | |
Net Income | $ 27,478 |
#9. Using "Chapter 17 - Financials in Excel," what is the Return on Assets Ratio for The Heart Hospital? ROA=Return on Assets = Net Income / Total Assets=46.5%
#10. Using "Chapter 17 - Financials in Excel," what is the Current Ratio for The Heart Hospital?
Current Ratio = Current Assets / Current Liabilities=2.50
#11. Using "Chapter 17 - Financials in Excel," what is the Days Cash on Handfor The Heart Hospital? Days Cash on Hand = (Cash + Short-Term Investments) / (Expenses - Depreciation) / 365=
#12. Using "Chapter 17 - Financials in Excel," what is the Average Collection Period/Days in Accounts Receivablefor The Heart Hospital?
#13. Using "Chapter 17 - Financials in Excel," what is the Debt Ratio for The Heart Hospital?
Debt Ratio = Total Debt / Total Assets=0.70
#14.Using "Chapter 17 - Financials in Excel," what is the Debt to Equity Ratio for The Heart Hospital? Debt to Equity Ratio = Total Debt / Total Equity= 0.54??????
#15. Using "Chapter 17 - Financials in Excel," what is the Times Interest Earned Ratio for The Heart Hospital?
Times Interest Earned Ratio = Earnings Before Interest and Taxes (EBIT) / Interest Expense
#16. Using "Chapter 17 - Financials in Excel," what is the Fixed Assets Turnover Ratio for The Heart Hospital? Fixed Asset Turnover = Total Revenue / Net Fixed Assets=2.27
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