I have inserted most of the information from the balance sheet and statement of operations. I believe I took the information and put added it to the correct place but I am unsure on how to explain it

Community Health Care, Inc. Balance Sheet As of December 31, 2015 and 2014 dollars in thousands 2015 ASSETS Current Assets Cash Temporary Investments Receivables, net Inventory Prepaid expenses Total Current Assets 124 $ 45 3,536 175 32 3,912 280 30 3,717 140 40 4,207 Noncurrent Assets Property, Plant, and Equipment (PP&E) Accumulated Depreciation Net PP&E Long-term investments Other noncurrent assets Total noncurrent Assets 6980 -1730 5250 609 113 5972 6580 -1660 4920 990 109 6019 Total Assets 9,884 10,226 * LIABILITIES & NET ASSETS Current liabilities Accounts payable Notes payable Accrued expenses payable Estimated third-party adjustments Current portion of long-term debt Total current liabilities Noncurrent liabilities Long-term debt, less current portion Total Liabilities Net Assets Unrestricted net assets Temporarily restricted net assets Permanently restricted net assets Total Net Assets Total Liabilities and Net Assets $ 2014 $ 302 $ 345 871 147 184 1,849 370 335 408 239 178 1,530 3,600 5,449 3,500 5,030 3285 750 400 4435 3896 700 600 5196 9,884 10,226 * Assets = Liabilities + Net Assets * Community Health Care, Inc. Statement of Operations For the fiscal years ended December 31, 2015 and 2014 dollars in thousands 2015 REVENUES Patient Service Revenue Provision for contractual allowances Provision for charity care allowances Provision for bad debt allowance Net Patient Service Revenue Premium Revenue Other revenue Total Operating Revenue $ $ EXPENSES Salaries wages, and benefits Supplies, drugs, purchased services Depreciation and amortization Interest expense Total Operating Expenses 2014 13,031 $ (4,209) (420) (600) 7,802 400 440 8,642 $ 12,610 (4,083) (408) (476) 7,643 447 8,090 4,980 3,080 471 113 8,644 5,278 2,956 443 109 8,786 Total Operating Income (2) (696) NONOPERATINg INCOME Investment Income 95 85 EXCESS OF REVENUE OVER EXPENSES CHANGES IN NET ASSETS Unrestricted net assets Temporarily restricted net assets Permanently restricted net assets Total changes in net assets $ $ $ 93 $ 3,285 750 400 4,435 (611) 3896 700 600 5196 1. From Community Health Care financial statements (first two tabs), create this Excel schedule showing Statement of Operations and Balance Sheet totals for the last two years. Use a formula (given) to calculate the Variance. Format your cells with commas and no decimal points (these dollars are in thousands). (in thousands of dollars) a b c d e From Statement of Operations Total Operating Revenues Total Operating Expenses Total Operating Income Non Operating Income Excess of Revenues over Expenses (Profit) f g h i j k l From Balance Sheet Total Current Assets Total Noncurrent (Long term) Assets Total Assets Total Current Liabilities Total Noncurrent (Long term) Liabilities Total Liabilities Total Net Assets 2015 8,642 2014 8,090 Variance (2015 minus 2014) 552 2. For each line item (a-l), list the dollar amount of the variance on that line, then describe which detail line items on that statement changed to cause the variance (for example, which of the revenue line items from the detailed statement was the main source of the variance in total operating revenues)? What does this mean? (Hint: use the descriptions in the vocabulary file to help you with this part). You may not be very good at the description part- that's ok- this is only week 1, we just want to see what you can do! I did the first one for you, as an example... a b c d e f g h j k l Increased $552K, due to $150K increase in patient services revenue and $400K increase in premium revenue, meaning- both related to income from patient care services, possibly related to increased # of patients