Louis Medical Center
Developing Financial Statements
All organizations, including those in the healthcare industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements, summarize an organization's profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from the Louis Medical Center.
Louis Medical Center is a large Midwestern acute care and ambulatory facility sewing an urban city population. Givens (in '0005): Long-term investments $108,000 Ending balance, unrestricted net assets $116,100 Inventory Patient revenues (net of contractual allowance) Gross plant, property, and equipment $161,900 Net accounts receivable Endin- balance, temooraril restricted net assets $9,300 Lona-term debt $104,000 Supply expense Net assets released from temporary restriction Depreciation expense General expense Provision for bad debt expense Cash and cash equivalents Transfer to parent corporation Beginning balance, unrestricted net assets $70,000 Accounts payable Beginning balance, temporarily restricted net assets Interest expense Labor expense $77,600 Accumulated depreciation Ealanun Shunt In 110!!! Further Year Ended .- harm, 21115 Burma! m Gash md [EEI'I uhralants Hat amnmts W lmantn 1mm tment am Grass-ant. n: ,andaqlipmmt mammlatadda- n: 1 \"HI\" tip-t- Stunt BI11'. Ln._-tan11lnmstmmts Tatal 11ml: Burmnllhmu mm\"; :g=.'_ mu: WWW Ln u-tanndaht mm mm Enl:lh_Inuizlanvnutav1 mmsmmad rue-1mm Endh bdammtamu -rl rash-Intadnetassets Mnmam Tuhl llabllni and nut aunt: Preflt. end Lees Statement Statement etD- raenl n 'IIJIJI Ferthe Year Ended Ee- =n1ber se. \"15 Unresetted remade: Patient revenues net at sentreetuals Prentslen fer bad debt expense Net is I : I'It revenues Net assets released trem tempera restdetten Tater revenues I .- .-... see: Leberespense Generatespense Sup-1 expense Ete-reeletien -.. -= 5e Intern-5t u \"NEE Thin-f m ; :n g'rn' Exeessefreuenuesever : u : ses Transferte parent eta'peratten Increase in unreIMeted net allele I!|||||||||||||||||||! Gash Flew Statement Statement of changes In Net Assets tlln 'Dnllls] Fer the 'tear Ended September 3D. ENE steam E Unresteted net assets Exeess ef revenues ever expenses Unrestricted eentneutlens t2 Transfer ta parent eerperaen Change tn unrestricted net assets ' t2 Temper-emf restricted net assets Net assets released from tern|::erar:|.r restrletlen Change tn testament}: restrteteef net assets ' t2 Fennenenttf restricted net asset Change tn pennanentty restrtetea' net assets t2 Inerease in net assets t2 Beginning balanee. net assets Ending bale nee, tetal net assets " tn
