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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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