Financial Statements
Income Statements				Pima Medical Center			Tucson Regional
		2019	2020	2021	2021
	Revenues	$51,336	$51,533	58,752	11,789
	Salaries and Benefits	23,560	23,874	26,779	5,411
	Supplies Expense	8,481	8,369	9,481	1,963
	Other Operating Expenses	9,481	9,307	9,961	2,857
	Depreciation/Amortization	2,596	2,721	2,853	458
	Interest Expense	1,824	1,584	1,566	1,031
	Total Operating Expenses	45,942	45,855	50,640	11,720
	Operating Income	5,394	5,678	8,112	69
	Income Taxes	1,099	1,043	2,112	14
	Net Income	4,295	4,635	6,000	55
Note: Amounts in 1,000s of dollars
Balance Sheets
		2019	2020	2021	2021
	Assets
	Cash	621	1,793	1,451	1,676
	Short-Term Investments	147	116	103	-
	Accounts Receivables, Net	7,333	7,159	8,095	1,927
	Supplies Inventory	1,849	2,025	1,986	335
	Other Current Assets	1,190	1,340	1,896	519
	Total Current Assets	11,140	12,433	13,531	4,457
	Net Property, Plant & Equipment	24,549	25,223	26,176	5,322
	Long-Term Note Receivable	37	31	44	59
	Intangible Assets	8,269	8,578	9,540	4,219
	Total Assets	43,995	46,265	49,291	14,057
	Liabilities & Shareholders' Equity
	Accounts Payable	2,357	2,581	2,842	383
	Short Term Debt	145	209	237	980
	Current Portion of Long Term Debt	4,905	5,535	6,111	533
	Other Current Liabilities	2,303	2,267	2,461	150
	Accrued Payroll	2,054	2,314	2,381	637
	Total Current Liabilities	11,764	12,906	14,032	2,683
	Long-Term Debt	23,107	20,301	23,765	11,033
	Total Liabilities	34,871	33,207	37,797	13,716
	Total Shareholders' Equity
		9,124	13,058	11,494	341
	Liabilities & Shareholders' Equity	43,995	46,265	49,291	14,057

	Pima Medical Center			Tucson Regional
Ratio	FY2019	FY2020	FY2021	FY2021	Analysis
Current Ratio	0.9	1.0	1.0	1.7	Tucson is more liquid than Pima as it has 1.7X current assets to cover any cash needs in the next year compared to Pima, which just has 1X. The Pima current ratio has only improvd modestly over the three years.
Acid Test Ratio	-	-	-	-
Profit Margin	0.0%	0.0%	0.0%	0.0%
Operating Margin	0.0%	0.0%	0.0%	0.0%
Return on Assets	0.0%	0.0%	0.0%	0.0%
Inventory Turnover	-	-	-	-
Days in Inventory	-	-	-	-
Days in Accounts Receivable	-	-	-	-
AR Turnover	-	-	-	-
Days in Accounts Payable	-	-	-	-
Cash Conversion Cycle	-	-	-	-
Debt Ratio	0.0%	0.0%	0.0%	0.0%
Times Interest Earned	-	-	-	-
Debt to Equity Ratio	0.0%	0.0%	0.0%	0.0%
Days Cash on Hand	-	-	-	-