$\backslash$table$[[$BROOKDALE HOSPITAL$],[$Balance Sheet$],[$December $31,204$Brookdale Hospital hired an inexperienced controller early in $20$X$4.$ Near the end of $20$X$4,$ the board of directors decided to conduct a major fund$-$raising campaign. They wished to have the December $31,20$X$4,$ statement of financial position for Brookdale fully conform with current generally accepted principles for hospitals. The trial balance prepared by the controller at December $31,20$X$4,$ follows:

Debit Credit

Cash $ $100,500$

Investment in Short$-$Term Marketable Securities $200,900$

Investment in Long$-$Term Marketable Securities $301,600$

Interest Receivable $15,800$

Accounts Receivable $55,900$

Inventory $36,000$

Land $120,600$

Buildings and Equipment $936,800$

Allowance for Depreciation $ $259,500$

Accounts Payable $41,200$

Mortgage Payable $320,500$

Fund Balance $1,146,900$

Total $ $1,768,100$ $ $1,768,100$

Additional Information:

Your analysis of the contributions receivable as of December $31,20$X$4,$ determined that there were unrecognized contributions for the following:

Unrestricted use $ $40,700$

Cancer research $11,600$

Purchase of equipment $21,500$

Permanently restricted endowment principal $30,800$

Total $ $104,600$

Short$-$term investments at year$-$end consist of $$151,400$ of funds without donor restrictions and $$49,500$ of funds restricted for future cancer research. All of the long$-$term investments are held in the permanently restricted endowment fund.

Land is carried at its current market value of $$120,600.$ The original owner purchased the land for $$71,400,$ and at the time of donation to the hospital, it had an appraised value of $$96,100.$

Buildings purchased $11$ years ago for $$606,000$ had an estimated useful life of $30$ years. Equipment costing $$153,000$ was purchased $7$ years ago and had an expected life of $10$ years. The controller had improperly increased the reported values of the buildings and equipment to their current fair value of $$936,800$ and had incorrectly computed the accumulated depreciation.

The board of directors voted on December $29,20$X$4,$ to designate $$100,500$ of funds without donor restrictions to be invested in short$-$term investments for developing a drug rehabilitation center.

Required:

Prepare a balance sheet for Brookdale Hospital at December $31,20$X$4.$