he Edwards Lake Community Hospital balance sheet as of December 31, 2022, follows. The following are the transactions of Edwards Lake Community Hospital during the fiscal year ended December 31 , 202 1) Information related to accrual of revenues and gains is as follows: 2) Cash received includes (3) Expenses of $900,500 were recorded in accounts payable and $1,465,790 in accrued payroll. Because some of the nursing expenses met a net asset restriction, $103,500 was released from restrictions. (4) Cash paid includes: (5) Interest of $2,130 accrued on investments in Assets Limited as to Use. (6) Depreciation charges for the year amounted to $126,500 for the buildings and $138,000 for equipment. Depreciation was allocated 45 percent to nursing services, 15 percent to other professional services and 20 percent to each administrative and general services. (7) Other information: (a) Provision for uncollectible receivables was determined to be adequate. (b) Supplies inventory balances: (7) Other information: (a) Provision for uncollectible receivables was determined to be adequate. (b) Supplies inventory balances: (c) Portion of mortgage payable due within one year, $595,000. (8) A $701 unrealized loss on investments occurred. (9) Nominal accounts were closed. Necessary adjustments were made to increase the Net Assets-Without Donor Restrictions, Designated for Plant. Required a-1. Prepare journal entry for the preceding transactions during the fiscal year ended December 31,2023 , assuming that Edwards Lake Community Hospital is a not-for-profit hospital. a-2. Prepare closing entries for the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. b. Prepare a balance sheet as of December 31,2023. c-1. Prepare a statement of operations for the year ended December 31, 2023. c-2. Prepare a statement of changes in net assets for the year ended December 31, 2023. d. Prepare a statement of cash flows for the year ended December 31, 2023. Prepare journal entry for the preceding transactions during the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. (If no entry is required for a transaction/event, select "No Journal Entry Required" in t first account field.) Journal entry worksheet Record the entry for accrual of revenues and gains during the year. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet E F G H Record the expenses in accounts payable and accrued payroll. Note: Enter debits before credits. Journal entry worksheet F G Record the expenses released from temporary restrictions. Note: Enter debits before credits. Journal entry worksheet C F G Record the payment of cash towards various accounts. Note: Enter debits before credits. Journal entry worksheet B D Record the $2,130 interest accrued on investments in Assets Limited as to Use. Note: Enter debits before credits. Journal entry worksheet B C D E Record the depreciation at $126,500 for buildings and $138,000 for equipment. Depreciation was allocated 45 percent to nursing services, 15 percent to other professional services and 20 percent to each administrative and general services. Note: Enter debits before credits. Journal entry worksheet BCDECG Record the inventory, administrative expenses and nursing service expenses during the year. Note: Enter debits before credits. Journal entry worksheet Record the portion of mortgage payable due within one year. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet InULe: criter dediss delore creails. Journal entry worksheet Record the increase to net assets-unrestricted designated for plant use. Note: Enter debits before credits. Journal entry worksheet Record the entry to reclassify the net position. Note: Enter debits before credits. Prepare a balance sheet as of December 31,2023. \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Total Assets Limited as to Use } & & \\ \hline Property, Plant and Equipment: & & \\ \hline & & \\ \hline & & \\ \hline Total Property, Plant and Equipment & & \\ \hline Total Assets & & \\ \hline & & \\ \hline Current Liabilities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Liabilities and Net Assets & & \\ \hline \end{tabular} EDWARDS LAKE COMMUNITY HOSPITAL Statement of Operations For Year Ended December 31, 2023 Statement of Operations For Year Ended December 31, 2023 Revenue Without Donor Restrictions: \begin{tabular}{|l|l|l|} \hline & & \\ \hline Total Revenues & & \\ \hline Expenses: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Expenses & & \\ \hline Excess of Revenues Over Expenses & & \\ \hline Nonoperating Gains (Losses) & & \\ \hline Excess of Revenues and Gains Over Expenses & & \\ \hline Net Assets Released from Restrictions: & & \\ \hline Satisfaction of Purpose Restrictions & & \\ \hline Increase in Net Assets Without Donor Restrictions & \\ \hline \end{tabular} Prepare a statement of changes in net assets for the year ended December 31,2023 . (Amounts to be deducted should be indicated with a minus sign.) Prepare a statement of cash flows for the year ended December 31, 2023. (List of cash outflows should be indicated by a Statement of Cash Flows For Year Ended December 31, 2023 Cash Flow from Operating Activities: \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Change in Net Assets } & & \\ \hline Adjustments to Reconcile Change in Net Assets to Net Cash Provided by Operating Activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Cash flows from Financing Activities: & & \\ \hline Net Cash Provided by Operating Activities & & \\ \hline Cash and Cash Equivalents, End of the Year & & \\ \hline \end{tabular} Req C2 he Edwards Lake Community Hospital balance sheet as of December 31, 2022, follows. The following are the transactions of Edwards Lake Community Hospital during the fiscal year ended December 31 , 202 1) Information related to accrual of revenues and gains is as follows: 2) Cash received includes (3) Expenses of $900,500 were recorded in accounts payable and $1,465,790 in accrued payroll. Because some of the nursing expenses met a net asset restriction, $103,500 was released from restrictions. (4) Cash paid includes: (5) Interest of $2,130 accrued on investments in Assets Limited as to Use. (6) Depreciation charges for the year amounted to $126,500 for the buildings and $138,000 for equipment. Depreciation was allocated 45 percent to nursing services, 15 percent to other professional services and 20 percent to each administrative and general services. (7) Other information: (a) Provision for uncollectible receivables was determined to be adequate. (b) Supplies inventory balances: (7) Other information: (a) Provision for uncollectible receivables was determined to be adequate. (b) Supplies inventory balances: (c) Portion of mortgage payable due within one year, $595,000. (8) A $701 unrealized loss on investments occurred. (9) Nominal accounts were closed. Necessary adjustments were made to increase the Net Assets-Without Donor Restrictions, Designated for Plant. Required a-1. Prepare journal entry for the preceding transactions during the fiscal year ended December 31,2023 , assuming that Edwards Lake Community Hospital is a not-for-profit hospital. a-2. Prepare closing entries for the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. b. Prepare a balance sheet as of December 31,2023. c-1. Prepare a statement of operations for the year ended December 31, 2023. c-2. Prepare a statement of changes in net assets for the year ended December 31, 2023. d. Prepare a statement of cash flows for the year ended December 31, 2023. Prepare journal entry for the preceding transactions during the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. (If no entry is required for a transaction/event, select "No Journal Entry Required" in t first account field.) Journal entry worksheet Record the entry for accrual of revenues and gains during the year. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet E F G H Record the expenses in accounts payable and accrued payroll. Note: Enter debits before credits. Journal entry worksheet F G Record the expenses released from temporary restrictions. Note: Enter debits before credits. Journal entry worksheet C F G Record the payment of cash towards various accounts. Note: Enter debits before credits. Journal entry worksheet B D Record the $2,130 interest accrued on investments in Assets Limited as to Use. Note: Enter debits before credits. Journal entry worksheet B C D E Record the depreciation at $126,500 for buildings and $138,000 for equipment. Depreciation was allocated 45 percent to nursing services, 15 percent to other professional services and 20 percent to each administrative and general services. Note: Enter debits before credits. Journal entry worksheet BCDECG Record the inventory, administrative expenses and nursing service expenses during the year. Note: Enter debits before credits. Journal entry worksheet Record the portion of mortgage payable due within one year. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet InULe: criter dediss delore creails. Journal entry worksheet Record the increase to net assets-unrestricted designated for plant use. Note: Enter debits before credits. Journal entry worksheet Record the entry to reclassify the net position. Note: Enter debits before credits. Prepare a balance sheet as of December 31,2023. \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Total Assets Limited as to Use } & & \\ \hline Property, Plant and Equipment: & & \\ \hline & & \\ \hline & & \\ \hline Total Property, Plant and Equipment & & \\ \hline Total Assets & & \\ \hline & & \\ \hline Current Liabilities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Liabilities and Net Assets & & \\ \hline \end{tabular} EDWARDS LAKE COMMUNITY HOSPITAL Statement of Operations For Year Ended December 31, 2023 Statement of Operations For Year Ended December 31, 2023 Revenue Without Donor Restrictions: \begin{tabular}{|l|l|l|} \hline & & \\ \hline Total Revenues & & \\ \hline Expenses: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Expenses & & \\ \hline Excess of Revenues Over Expenses & & \\ \hline Nonoperating Gains (Losses) & & \\ \hline Excess of Revenues and Gains Over Expenses & & \\ \hline Net Assets Released from Restrictions: & & \\ \hline Satisfaction of Purpose Restrictions & & \\ \hline Increase in Net Assets Without Donor Restrictions & \\ \hline \end{tabular} Prepare a statement of changes in net assets for the year ended December 31,2023 . (Amounts to be deducted should be indicated with a minus sign.) Prepare a statement of cash flows for the year ended December 31, 2023. (List of cash outflows should be indicated by a Statement of Cash Flows For Year Ended December 31, 2023 Cash Flow from Operating Activities: \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Change in Net Assets } & & \\ \hline Adjustments to Reconcile Change in Net Assets to Net Cash Provided by Operating Activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Cash flows from Financing Activities: & & \\ \hline Net Cash Provided by Operating Activities & & \\ \hline Cash and Cash Equivalents, End of the Year & & \\ \hline \end{tabular} Req C2