WESTSIDE CLINIC BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31, 2018 ASSETS CURRENT ASSETS LIABIUTIES and FUND BALANCE CURRENT LIABILITIES $ 190,000 5 Current Maturities of Long Term Debt Accounts Payable & Accrued Expenses 53,000 293,000 250,000 Cash and Cash Equivalents Assets Whose Use is Umited Patients Accounts Receivable (Net of $1,300,000 Allowance for Doubtful Accounts Other Receivables Total Current Liabilities 345.000 252,000 Long Term Debt Less Current Portion of Long Term Debt Net Long Term Debt Inventories Prepaid Insurance 25.000 5,000 52.000 200.000 Total Current Assets 5 470,000 Total abilities $45.000 Fund Balances Unrestricted Fund Balance Restricted Fund balance 000 Property, plant and Equipment, Net Land 100,000 Equipment Total Labis and Fund Balances 963.000 260.000 360.000 13 O A 133.000 Total RS 963.000 1 0 N 0 $ 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 Liabilitles 345,009 252,000 Long Term Debt Less Current Portion of Long Term Debt Net Long Term Debt Inventories Prepaid Insurance 25,000 5,000 152.000) 200,000 Total Current Assets $ 470,000 Total Liabilities 545,000 Fund Balances Unrestricted Fund Balance Restricted Fund Balance 418.000 100,000 Property Plant and Equipment, Net Land Buildings Equipment Total Liabilities and Fund Balances 96000 260,000 360,000 Other Assets Investments 113,000 Total Arts 5 363,000 1. Calculate the Current Ratio 2. Calculate the Quick Ratio WESTSIDE CLINIC STATEMENT OF REVENUE AND EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2018 2,000,000 REVENUE Net Patient Service Revenue Other Revenue TOTAL OPERATING REVENUE $ 2,000,000 EXPENSES Medical Surgical Services Therapy Services G Other Professional Services 7 Support Services General Services 19 Depreciation 20 Interest 21 TOTAL CASH OPERATION EXPENSES 22 INCOME FROM OPERATIONS 24 25 NON-OPERATING GAIN (LOSS) 26 Interest Income 600,000 860,000 80,000 220,000 65,000 40,000 20,000 1,885,000 $ 115,000 23 5,000 28 5,000 NONOPERATING GAINS, NET 29 30 REVENUE AND GAINS IN EXCESS OF EXPENSES AND LOSSES INCREASE IN UMRESTRICTED FUND BALANCE $ $ 120,000 120,000 31 From the financial statements listed in the first two tabs of this spreadsheet calculate the financial ratios listed below. 5 1. Calculate the Current Ratio 11 Current Assets Current Liabilities 1 24 2. Calculate the Quick Ratio. 1 Cash & cash Equivalents + Net Receivable Current Liabilities 3. Calculate Days Cash on Hand 20 Unrestricted Cash & Cash Equivalents Cash Operation Exp/No. of Days in Period 190,000 5,164 36.79 1,885,000 365 5,164,38 4. Calculate Days Receivable 2 2,000,000 365 5,479 Net Receivables Net Patient Service Revenue/No. of Days in Period 250,000 5,479 45.629 5. Calculate Liabilities to Fund Balance (Debt to Net Worth) Total Liabilities Unrestricted Fund Balances Puvex Assignment
