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XYZ Hospital is a major medical center. Financial data for 2023 is detailed below: Ledgers (in $ millions) Amount Patient Services Revenue 300.0 Salaries and
XYZ Hospital is a major medical center. Financial data for 2023 is detailed below:
Ledgers (in $ millions) | Amount |
Patient Services Revenue | 300.0 |
Salaries and Benefits Expense | 180.0 |
Supplies Expense | 45.0 |
Depreciation Expense | 15.0 |
Requirements:
- Prepare XYZ Hospital's income statement for the year ended December 31, 2023.
- Calculate the Operating Income and Non-Operating Revenues/Expenses.
- Determine the Net Income after taxes using a tax-exempt status.
- Analyze XYZ Hospital's financial performance relative to peer institutions.
- Discuss how XYZ Hospital can optimize its cost structure to improve financial sustainability.
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