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CityHealth Hospital reported the following financial data for the year: CityHealth Hospital reported the fair market value of its assets as 2,500,000 and the total

CityHealth Hospital reported the following financial data for the year:

CityHealth Hospital reported the fair market value of its assets as £2,500,000 and the total liabilities amounted to £1,000,000. The net income for the year was £400,000.

Requirements:

  1. Calculate the Return on Equity (ROE) for CityHealth Hospital for the year ended 31 December 2021.
  2. Discuss how the fair market value of assets impacts the financial statements of CityHealth Hospital.
  3. Draft a summarized income statement for CityHealth Hospital for the year ended 31 December 2021.

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