Suppose you are a new hire in the finance department of Miller Hospital, a not-for-profit hospital located in Southport. You are assigned to prepare a Balance Sheet for year ending (December 31, 2018) using the following information. Please prepare a Balance Sheet for December 31, 2018 for Miller hospital on an Excel spreadsheet. Following are the transaction recorded on December 31, 2018

(in thousands)

Cash in Bank

$ 100

Deposited funds in the Bank

$ 500

Certified checks

$ 85

Gross patient charges by the end of 2018

$ 350,600

Courtesy allowance (not included in employee benefits)

$ 300

Received donation (on November 12, 2018) for running free diabetes awareness program in the community in year 2019

$ 1,250

Supplies purchased in 2018 + Supplies unused from previous year

$ 36,500

Properties and equipment (not supplies)

$ 185,000

Certificate of deposits

$ 115

Doubtful account allowance (% of Gross patient charges)

23.50%

Accumulated depreciation

$ 55,000

Addition of a parking garage from long-term bank loan

$ 1,000

Payment due for supplies

$ 20,500

Salaries and benefits due for payment

$ 30,600

Temporary Marketable securities

$ 350

Estimated malpractice cost for 2018

$ 280

Supplies Used in 2018

$ 25,000

Long-term debt

$ 55,600

current portion of long term liabilities

$ 3,720

Charity care provided in 2018

$ 1,250

Other accrued liabilities

$ 1,640

While you were preparing the Balance Sheet, you found that the following transaction was missing from the above information you received, therefore, you updated the above information with the following information.

BMW is one of the major employers in Southport. The CEO of BMW plant donated $790,000 worth of medical supplies, and $2,200,000 worth of Da Vinci Robotic Surgery System to the hospital in November 2018.