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If there is any missing information, I do not know what it would be as I copied the question. The Edwards Lake Community Hospital balance

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If there is any missing information, I do not know what it would be as I copied the question.

The Edwards Lake Community Hospital balance sheet as of December 31, 2019, follows. $ 445,500 27,900 93,400 566,800 $ 18,540 236,220 254,760 EDWARDS LAKE COMMUNITY HOSPITAL Balance Sheet As of December 31, 2019 Assets Current assets: Cash and Cash Equivalents Accounts and notes receivable (net of uncollectible accounts of $17,200) Inventory Total current assets Assets limited as to use: Cash Investments Total assets limited as to use Property, plant, and equipment: Land Buildings (net of accumulated depreciation of $1,624,400) Equipment (net of accumulated depreciation of $1,025,900) Total property, plant, and equipment Total assets Liabilities and Net Assets Current liabilities: Accounts payable Accrued payroll Current portion of mortgage payable Total current liabilities Long-term debt-mortgage payable Total liabilities Net assets: Without donor restrictions Undesignated Designated for plant With donor restrictions Total liabilities and net assets 217,100 2,900,000 1,861,600 4,978,700 $5,800,260 $ 20,600 47,800 570,000 638,400 2,640,000 3,278,400 2,089,760 253,360 178,740 2,521,860 $5,800,260 The following are the transactions of Edwards Lake Community Hospital during the fiscal year ended December 31, 2020. (1) Information related to accrual of revenues and gains is as follows: (1) Information related to accrual of revenues and gains is as follows: Patient services revenue, gross Charity care Contractual adjustments to patient service revenues Other operating revenues $3,502,300 218,260 1,534,000 1,001,550 (2) Cash received includes Interest on investments in Assets Limited as to Use Collections of receivables 8,750 2,967,600 (3) Expenses of $898,000 were recorded in accounts payable and $1,462,790 in accrued payroll. Because some of the nursing expenses met a net asset restriction, $101,000 was released from restrictions. Administration expenses General services expenses Nursing services expenses Other professional services expenses 453,480 527,860 1,033,200 346,250 (4) Cash paid includes: $ Interest expense (allocated half to nursing services and half to general services) Payment on mortgage principal Accounts payable for purchases Accrued payroll 294,000 570,000 839,600 1,286,500 (5) Interest of $1,880 accrued on investments in Assets Limited as to Use. (6) Depreciation charges for the year amounted to $124,000 for the buildings and $135,500 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. E (7) Other information: (a) Provision for uncollectible receivables was determined to be adequate. b) Supplies inventory balances Administration General services Nursing services Other professional services Totals 12/31/2019 $12,200 12,900 24,000 44,300 $93,400 12/31/2020 $10,100 16,000 19,600 54,000 $99,700 (c) Portion of mortgage payable due within one year, $570,000 (8) A $691 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, 2020, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. a-2. Prepare closing entries for the fiscal year ended December 31, 2020, assuming that Edwards Lake Community Hospital is a not- for-profit hospital. b. Prepare a balance sheet as of December 31, 2020. C-1. Prepare a statement of operations for the year ended December 31, 2020. C-2. Prepare a statement of changes in net assets for the year ended December 31, 2020. d. Prepare a statement of cash flows for the year ended December 31, 2020. The Edwards Lake Community Hospital balance sheet as of December 31, 2019, follows. $ 445,500 27,900 93,400 566,800 $ 18,540 236,220 254,760 EDWARDS LAKE COMMUNITY HOSPITAL Balance Sheet As of December 31, 2019 Assets Current assets: Cash and Cash Equivalents Accounts and notes receivable (net of uncollectible accounts of $17,200) Inventory Total current assets Assets limited as to use: Cash Investments Total assets limited as to use Property, plant, and equipment: Land Buildings (net of accumulated depreciation of $1,624,400) Equipment (net of accumulated depreciation of $1,025,900) Total property, plant, and equipment Total assets Liabilities and Net Assets Current liabilities: Accounts payable Accrued payroll Current portion of mortgage payable Total current liabilities Long-term debt-mortgage payable Total liabilities Net assets: Without donor restrictions Undesignated Designated for plant With donor restrictions Total liabilities and net assets 217,100 2,900,000 1,861,600 4,978,700 $5,800,260 $ 20,600 47,800 570,000 638,400 2,640,000 3,278,400 2,089,760 253,360 178,740 2,521,860 $5,800,260 The following are the transactions of Edwards Lake Community Hospital during the fiscal year ended December 31, 2020. (1) Information related to accrual of revenues and gains is as follows: (1) Information related to accrual of revenues and gains is as follows: Patient services revenue, gross Charity care Contractual adjustments to patient service revenues Other operating revenues $3,502,300 218,260 1,534,000 1,001,550 (2) Cash received includes Interest on investments in Assets Limited as to Use Collections of receivables 8,750 2,967,600 (3) Expenses of $898,000 were recorded in accounts payable and $1,462,790 in accrued payroll. Because some of the nursing expenses met a net asset restriction, $101,000 was released from restrictions. Administration expenses General services expenses Nursing services expenses Other professional services expenses 453,480 527,860 1,033,200 346,250 (4) Cash paid includes: $ Interest expense (allocated half to nursing services and half to general services) Payment on mortgage principal Accounts payable for purchases Accrued payroll 294,000 570,000 839,600 1,286,500 (5) Interest of $1,880 accrued on investments in Assets Limited as to Use. (6) Depreciation charges for the year amounted to $124,000 for the buildings and $135,500 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. E (7) Other information: (a) Provision for uncollectible receivables was determined to be adequate. b) Supplies inventory balances Administration General services Nursing services Other professional services Totals 12/31/2019 $12,200 12,900 24,000 44,300 $93,400 12/31/2020 $10,100 16,000 19,600 54,000 $99,700 (c) Portion of mortgage payable due within one year, $570,000 (8) A $691 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, 2020, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. a-2. Prepare closing entries for the fiscal year ended December 31, 2020, assuming that Edwards Lake Community Hospital is a not- for-profit hospital. b. Prepare a balance sheet as of December 31, 2020. C-1. Prepare a statement of operations for the year ended December 31, 2020. C-2. Prepare a statement of changes in net assets for the year ended December 31, 2020. d. Prepare a statement of cash flows for the year ended December 31, 2020

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