Health Care Finance: Basic Tools For Nonfinancial Managers, Fifth Edition Judith J. Baker, R. W. Baker, and Neil R. Dworkin Assignment Exercise 11-1 Assignment Exercise 11 Assignment Exercise 11-1: Components of Balance Sheet and Statement of Net Income Refer to the Metropolis Health System (MHS) financial statements contained in Appendix 33-A. Use the MHS comparative balance sheet, statement of revenue and expenses, and statement of fund balance for this assignment. Required Identify the following MHS balance sheet components. List the name of each component and its amount(s) from the appropriate MHS financial statement. Current Liabilities Total Assets Income from Operations Accumulated Depreciation Total Operating Revenue Current Portion of Long-Term Debt Interest Income Inventories Doctors Smith and Brown: Statement of Net Income for the Three Months Ended March 31, 2_ Revenue Net patient service revenue 180,000 Other revenue -O- Total Operating Revenue 180,000 Expenses Nursing/PA salaries 16,650 Clerical salaries 10,150 Payroll taxes/employee benefits 4.800 Medical supplies and drugs 15,000 Professional fees 3,000 Dues and publications 2,400 Janitorial service 1,200 Office supplies 1,500 Repairs and maintenance 1,200 Utilities and telephone 6,000 Depreciation 30,000 Interest 3,100 Other 5,000 Total Expenses 100,000 Income from Operations 80,000 Nonoperating Gains (Losses) Interest Income Nonoperating Gains, Net Net Income 80,000 Doctors Smith and Brown Balance Sheet March 31, 2 25,000 40,000 5,000 70,000 500,000 800,000 1,300,000 (480,000) 820,000 100,000 920,000 Assets Current Assets Cash and cash equivalents Patient accounts receivable Inventoriessupplies and drugs Total Current Assets Property, Plant, and Equipment Buildings and Improvements Equipment Total Less Accumulated Depreciation Net Depreciable Assets Land Property, Plant, and Equipment, Net Other Assets Total Assets Liabilities and Capital Current Liabilities Current maturities of long-term debt Accounts payable and accrued expenses Total Current Liabilities Long-Term Debt Less Current Portion of Long-Term Debt Net Long-Term Debt Total Liabilities Capital Total Liabilities and Capital 10,000 1,000,000 10,000 20,000 30,000 180,000 (10,000) 170,000 200,000 800,000 1,000,000 Doctors Smith and Brown Statement of Changes in Capital for the Three Months Ended March 31, 2_ Beginning Balance Net Income Ending Balance $720,000 80,000 $800,000