ASSETS LIABILITIES and FUND BALANCE CURRENT ASSETS CURRENT LIABILITIES Cash and Cash Equivalents Current Maturities of Long Term Debt 290,000 32,000 Assets Whose Use is Limited ccounts Payable & Accrued Expenses 303,000 Patients Accounts Receivable 350,000 (Net of $1,300,000 Allowance for Total Current Liabilities 335,000 Doubtful Accounts) Other Receivables Long Term Debt 252,000 Less Current Portion of Long Term 25,000 Debt (52,000) Inventories Prepaid Insurance 5,000 Net Long Term Debt 200,000 Total Current Assets Total Liabilities 670,000 535,000 Fund Balances Property, Plant and Equipment, Net Unrestricted Fund Balance 928,000 Land Restricted Fund Balance 200,000 Buildings $1,463,000 Equipment 360,000 Total Liabilities and Fund Balances 560,000 Other Assets Investments 233,000 Total Assets 1,463,000 REVENUIE Net Patient Service Revenue 2,500,000 Other Revenue $2,500,000 TOTAL OPERATING REVENUE EXPENSES Medical Surgical Services Therapy Services 600,000 860,000 Other Professional Services 80,000 Support Services 220,000 General Services 65,000 Depreciation 60,000 Interest 40,000 1,925,000 TOTAL EXPENSES INCOME FROM OPERATIONS 575,000 NON-OPERATING GAIN (LOSS) Interest Income 5,000 NONOPERATING GAINS, NET 5,000 580,000 REVENUE AND GAINS IN EXCESS OF EXPENSES AND LOSSES INCREASE IN UNRESTRICTED FUND BALANCE 580,000 Using the attached financial statements, calculate the following (12 Points) ratios: 1. Calculate the Current Ratio Current Assets Current Liabilities 2. Calculate the Quick Ratio. Cash & cash Equivalents + Net Receivable Current Liabilities 6. Calculate Liabilities to Fund Balance (Debt to Net Worth) Total Liabilities Unrestricted Fund Balances