Develop a non-GAAP [generally accepted accounting principles] statement of operations (start with gross patient service revenue) and balance sheet for 2020 (you can assume the format and numbers are correct on the 2019 balance sheet, and you can further assume that all balances carry forward to the 2020 balance sheet with the exception of accounting for the profit or loss from the 2020 statement of operations). With the exception of starting with gross patient service revenue, please ensure that you prepare the financial statement in current GAAP. Please use ratio analysis to analyze the ratios (use data from Optum's 2018 Almanac ofHospital Financial and Operating Indi-cators for comparative statisticsuse the median for critical access hospitals which is provided in Table II [at the end of this case study]).

TABLE I TABLE VII CMMC Operating Expenses 2020 TABLE III-D CMMC Average Charges per Day, Fiscal Year 2020 Note: Salaries, wages, and benefits includes $200,000 for salaries, $8,205.724 for wages, $1,758,370 for required benefits, and $1,758,370 for voluntary benefits. Note: ICU: intensive care unit; OB/GYN: obstetrics/gynecology. Question 1: To compute Gross Revenue. Identify the Patient Care Days by Service Table III-C. Multiply the days times Charges Table III-D. This will give you the Gross Revenue for Medical/Surgical, ICU, OB/Gyn and Swing Beds. Multiply the Volumes for SNF and Emergency times the Charges table III-C. This will give you the Gross Revenue for SNF and Emergency. Multiply the Gross Revenue for each of those services times the Volumes by percentage, by Payor. This will give you the Gross Revenue by Service and by payor. To compute Net Revenue. Identify the Operating Expense 2020 Table VII. Multiply the Total expense by the percentage of Medicare and Medicaid Table IIIB. This will give you the Net Revenue for Medicare and Medicaid since they are Cost reimbursed. The Gross Revenue for Self Pay/Commercial is also the Net, since they pay charges. Take the Managed Care with Discount times 50% for Net Revenue. Take the $400 times 20 families times 12 for the Managed Care with Capitations. There is not any Net Revenue for Bad Debt and Charity Care. You have then computed for your Income Statement Gross Revenue and Net Note: ICU: intensive care unit; OB/GYN: obstetrics/gynecology. Revenue. The difference between the 2 would be Explicit Price Concessions. The Operating Expense comes from the case. The difference between Net Revenue and Operating Expense is then carried over to the Balance Sheet Table I. All numbers stay the same from 2019 except the Unrestricted net Assets