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The following events were recorded on the books of Crane Hospital for the year ended December 31, 2025, 1. Revenue from patient services totaled $16,110,000.
The following events were recorded on the books of Crane Hospital for the year ended December 31, 2025, 1. Revenue from patient services totaled $16,110,000. The allowance for uncollectibles was established at $3,380,000. OF the $16,110,000 revenue, $5,990,000 was recognized under cost reimbursement agreements. This revenue is subject to audit and retroactive adjustment by third-party payers (estimated adjustments are included in the allowance account). 2. Patient service revenue is accounted for at established rates on the accrual basis. 3. Otheroperating revenue totaled $349,000, of which $147,000 was from specific purpose funds. 4. Mercy received $399,000 in unrestricted gifts and bequests. They are recorded at fair market value when received. 5 Endewrmnent funds earned $153,000 in unrestricted income. 6. Board designated funds earned $84,000 inincome. 7. Mercy's operating expenses for the year amounted to $13,420,000. This included $523,000 in straight-line depreciation. Prepare statement of activities for Crane Hospital for the year ended December 31, 2025. (Enter negative amounts using either a negative sign preceding the number, e.g. -45 or parentheses, e.. (45).) Statement of Activities v v Allowances and Uncollectible Accounts Excess of Revenue over Expenses Gain from Operations Income from Board-Designated Funds Loss from Operations Net Patient Service Revenue Nonoperating Revenue Operating Expenses Other Operating Revenue Patient Service Revenue Total Nonoperating Revenue Total Operating Revenue Unrestricted Gifts and Requests Unrestricted Income from Endowment Funds
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