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H M 3 N o P 5 Home Work Assignment - Chapter 11 WESTSIDE CLINIC BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31, 2018 ASSETS CURRENT ASSETS LIABILITIES and FUND BALANCE CURRENT LIABILITIES $ 190 000 Current Maturities of Long Term Debt Accounts Payable & Accrued Expenses 52,000 293,000 250,000 Cash and Cash Equivalents Assets Whose Use is Limited Patients Accounts Receivable [Net of $1,300 000 Allowance for Doubtful Accounts) Other Receivables Total Current Liabilities 252.000 Inventories Prepaid Insurance Long Term Debt Less Current Portion of Long Term Debt Net Long Term Debt 25.000 5.000 (52 000) 200,000 Total Current Assets $ 470.000 Total Liabilities 545,000 Fund Balances Unrestricted Fund Balance Restricted Fund Balance Property. Plant and Equipment, Net Land Buildings Equipment 418,000 100,000 Total Liabilities and Fund Balances $ 963.000 260,000 360,000 Other Assets Investments 133,000 BalSheet RevExp Assignment WESTSIDE CLINIC STATEMENT OF REVENUE AND EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2018 REVENUE Net Patient Service Revenue Other Revenue TOTAL OPERATING REVENUE 2,000,000 $ 2,000,000 EXPENSES Medical Surgical Services Therapy Services Other Professional Services Support Services General Services Depreciation Interest 600,000 860,000 80,000 220,000 65,000 40,000 20,000 TOTAL EXPENSES 1,885,000 2 3 INCOME FROM OPERATIONS s 115.000 1 5 NON-OPERATING GAIN (LOSS) Interest Income 6 5.000 7 8 NONOPERATING GAINS, NET 5.000 5 REVENUE AND GAINS IN EXCESS OF EXPENSES AND LOSSES INCREASE IN UMRESTRICTED FUND BALANCE 120,000 120,000 31 $ H H From the financial statements listed in the first two tabs of this spreadsheet, calculate the financial ratios listed below. 1. Calculate the Current Ratio Current Assets Current Liabilities 2. Calculate the Quick Ratio. Cash & cash Equivalents + Net Receivable Current Liabilities 3. Calculate Days Cash on Hand Unrestricted Cash & Cash Equivalents Cash Operation Exp/No. of Days in Period 4. Calculate Days Receivable 3 Net Receivables eNet Credit Revenue/No. of Days in Period 5. Calculate Liabilities to Fund Balance (Debt to Net Worth) 1 . Tota Liabilities Unrestricted Fund Balances N 13