Reference no: EM131289123

Healthcare Financial Management and Economics

Assignment- Louis Medical Center

Developing Financial Statements

All organizations, including those in the healthcare industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements, summarize an organization's profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from the Louis Medical Center.

Louis Medical Center

Louis Medical Center is a large Midwestern acute care and ambulatory facility serving an urban city population.

Givens (in '000s):
Inventory	$7,000
Patient revenues (net of contractual allowance)	$220,000
Gross plant, property, and equipment	$161,900
Net accounts receivable	$65,000
Ending balance, temporarily restricted net assets	$9,300
Wages payable	$18,000
Long-term debt	$104,000
Supply expense	$18,000
Net assets released from temporary restriction	$3,500
Depreciation expense	$20,000
General expense	$40,000
Provision for bad debt expense	$12,000
Cash and cash equivalents	$7,500
Transfer to parent corporation	($3,300)
Beginning balance, unrestricted net assets	$70,000
Accounts payable	$12,000
Beginning balance, temporarily restricted net assets	$12,800
Interest expense	$6,500
Labor expense	$77,600
Accumulated depreciation	$90,000
Long-term investments	$108,000
Ending balance, unrestricted net assets	$116,100

To prepare for this Assignment:

Examine the data from Louis Medical Center. Reflect on how you will use this data to develop a Balance Sheet, Profit and Loss Statement, and Cash Flow Statement. Refer to the course text for additional guidance.

The Assignment:

Complete a Balance Sheet, Profit and Loss Statement (Statement of Operations), and Cash Flow Statement (Statement of Changes in Net Assets) using the Week 5Financial Statement Excel Templatelocated in the Learning Resources.

Attachment:- Data.xlsx