GLENWOOD HOSPITAL BALANCE SHEET FOR DECEMBER 31, 20X1 AND 20X0
		12/31/20X1	12/31/20X0		12/31/20X1	12/31/20X0
CURRENT ASSETS				LIABILITIES
CASH			51000	CURRENT LIABILITIES		40,000
GROSS ACCTS RECEIVABLE (20X0)	68,000
LESS ALLOWANCE FOR BAD DEBT (20X0)	-12,000			TOTAL CURRENT LIABILITIES		40,000
GROSS ACCTS RECEIVABLE (20X1)
LESS ALLOWANCE FOR BAD DEBT (20X1)
NET ACCT RECEIVABLE			56000	NONCURRENT LIABILITIES		265,000
SUPPLIES			5900
PREPAID EXPENSES			2500	TOTAL NONCURRENT LIABILITIES		265,000
TOTAL CURRENT ASSET			115,400
				TOTAL LIABILITIES		305,000
				NET ASSETS
NONCURRENT ASSETS
LONG-TERM INVESMENTS (NET)			330,000	UNRESTRICTED		460,400
PLANT,PROPERTY, AND EQUIPMENT (20X0)	450,000			RESTRICTED		11,300
(LESS ACCUMULATED DEPRECIATION 20X0)	-100,000			TRANSFER TO PARENT
PLANT,PROPERTY, AND EQUIPMENT (20X1)				REVENUES AND GAINS
(LESS ACCUMULATED DEPRECIATION 20X1)				EXPENSES		18,700
NET PLANT, PROPERTY, AND EQUIPMENT			350,000
TOTAL NONCURRENT ASSETS			680,000	TOTAL NET ASSETS		490,400
TOTAL ASSETS			795,400	TOTAL LIABILITIES AND NET ASSETS		795,400

INSTRUCTIONS FOR BALANCE SHEET.

• In a separate document I have provided you the completed JOURNAL/LEDGER.
• Here, I am providing you with the outline for the BALANCE SHEET.
• In addition, I am entering the figures for ending balances from 12/31/20X0. This came from the BEGINNING BALANCE in ORANGE at the top of the Journal/Ledger. SPECIAL NOTE: Note the color-coding in the second column and how it correlates to the numbers in the fourth column. SEE BELOW. YOU MUST COMPLETE THE ENTIRE 12/31/20X1 NOT JUST THESE COLOR CODED AREA.

GROSS ACCTS RECEIVABLE (20X0)	58000
LESS ALLOWANCE FOR BAD DEBT (20X0)	-8000
GROSS ACCTS RECEIVABLE (20X1)
LESS ALLOWANCE FOR BAD DEBT (20X1)
NET ACCT RECEIVABLE			50000

PLANT,PROPERTY, AND EQUIPMENT (20X0)	250000
(LESS ACCUMULATED DEPRECIATION 20X0)	-90000
PLANT,PROPERTY, AND EQUIPMENT (20X1)
(LESS ACCUMULATED DEPRECIATION 20X1)
NET PLANT, PROPERTY, AND EQUIPMENT			160000

• In order to complete this portion of your assignment, use the information that I provided you in the JOURNAL/LEDGER to fill in the blanks for 12/31/20X1. (NOTE: THE TOTALS FOR EACH ACCOUNT YOU NEED ARE AT THE BOTTOM OF THE JOURNAL/LEDGER highlighted in BLUE.)

GLENWOOD HOSPITAL STATEMENT OF OPERATIONS
12/31/20X1
REVENUES
NET PATIENT REVENUE
EARNED/UNRECEIVED INCOME
TOTAL REVENUES
EXPENSES
USED SUPPLIES
INTEREST PAYMENT
GENERAL EXPENSE
LABOR EXPENSE
DEPRECIATION
EXPIRED PREPAID INSURANCE
RECOGNIZED BAD DEBT
TOTAL EXPENSES
OPERATING INCOME*
EXCESS OF REVENUES OVER EXPENSES*
TRANSFERS TO PARENT
INCREASE IN UNRESTRICTED NET ASSETS**

INSTRUCTIONS FOR COMPLETING THE STATEMENT OF OPERATIONS.

• In order to complete this financial report, you must refer to the JOURNAL/LEDGER that I have provided to you.
• Particularly, you will be using some of the information listed in the last 6 columns (those under NET ASSETS). This is a rather straight-forward exercise, you will transfer the entries that are in the columns mentioned to this report.
• Use the information found in those columns to complete the entries in the table above.
• Since we are only looking at activities that occurred in 20X1, DO NOT include the entries from the BEGINNING BALANCE row of the JOURNAL/LEDGER Also, do not use the totals at the bottom those are totals.
• SPECIAL NOTES
  • THERE IS MORE THAN 1 ENTRY FOR INTEREST PAYMENTS LIST THEM AS 1 ENTRY.
  • ALL OTHER ENTRIES HAVE A 1 TO 1 RELATIONSHIP FOR EVERY LINE ON THIS FORM, THERE IS ONE ENTRY WITHIN THE COLUMNS YOU ARE TRANSFERRING FROM.
  • *Remember--- OPERATING INCOME (as well as EXCESS OF REVENUES OVER EXPENSES) is the difference between TOTAL REVENUES and TOTAL EXPENSES.
  • ** INCREASE IN UNTRESTRICTED NET ASSETS is the sum of EXCESS OF REVENUES OVER EXPENSES and TRANSFER TO PARENT.

GLENWOOD HOSPITAL STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDING DECEMBER 31, 20X1
12/31/20X1
UNRESTRICTED NET ASSETS
EXCESS OF REVENUES OVER EXPENSES*
TRANSFERS TO PARENT*
INCREASE IN UNRESTRICTED NET ASSETS**
TEMPORARILY RESTRICTED NET ASSETS
INCREASE IN TEMPORARILY RESTRICTED NET ASSETS	0
PERMANENTLY RESTRICTED NET ASSETS
INCREASE IN PERMANENTLY RESTRICTED NET ASSETS	0
INCREASE IN NET ASSETS***
NET ASSETS, BEGINNING OF YEAR****
NET ASSETS, END OF YEAR*****

INSTRUCTIONS FOR COMPLETING THE STATEMENT OF CHANGES IN NET ASSETS.

• *Comes from the STATEMENT OF OPERATIONS.
• **Total of the first two items.
• *** Total of Increases in Unrestricted, Temp Restricted, and Perm Restricted Assets.
• ****Comes from BALANCE SHEET (TOTAL NET ASSETS FROM 20X0).
• ***** Add together the INCREASE IN NET ASSETS and NET ASSET BEGINNING OF YEAR --Should be equal to TOTAL NET ASSETS FROM 20X1.
• NOTE--- Leave the 0 (zeros) I have placed in this table ---- there were no Increases in either the Temporarily or Permanently restricted Net Assets.