Reference no: EM133544381

Homework: Healthcare Financial Management and Economics- Developing Financial Statements- Sundanese Medical Center

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 this profitability and an organization's overall financial status. For this Homework, you practice developing three key financial statements using data from the Sundanese Medical Center.

Sundanese Medical Center

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

Givens (in '000s):
Provision for bad debt expense	$10,200
Cash	$15,600
Patient revenues (net of contractuals)	$188,000
Net accounts receivable	$15,300
Ending balance, temporarily restricted net assets	$13,700
Wages payable	$9,800
Inventory	$6,400
Long-term debt	$42,000
Supply expense	$21,000
Gross plant, property, and equipment	$175,000
Net assets released from temporary restriction	$3,300
Depreciation expense	$10,000
General expense	$36,000
Transfer to parent corporation	($3,300)
Beginning balance, unrestricted net assets	$160,600
Accounts payable	$12,000
Beginning balance, temporarily restricted net assets	$17,000
Interest expense	$1,800
Labor expense	$105,000
Accumulated depreciation	$35,000
Long-term investments, restricted	$64,800
Ending balance, unrestricted net assets	$164,600

To prepare for this Homework:

Examine the data from Sundanese 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.

Task

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