1-. Identify and explain the basic financial statements for investor-owned health care entities and not-for-profit entities.

Q.2.Balance sheet. The following are account balances as of September 30, 20X1, for Ray Hospital. Prepare a balance sheet at September 30, 20X1. (Hint: net assets will also need to be calculated.)

Given
Gross plant, property, and equipment	$70,000,000
Accrued expenses	$6,000,000
Cash	$8,000,000
Net accounts receivable	$15,500,000
Accounts payable	$7,000,000
Long-term debt	$45,000,000
Supplies	$3,000,000
Accumulated depreciation	$5,000,000

Q.3.Statement of cash flows. The following is a list of account balances for Hover Hospital on June 30, 20X1. Prepare a statement of cash flows as of June 30, 20X1.

Givens
Transfer to parent corporation	$40,000
Proceeds from sale of fixed equipment	$2,290,000
Principal payment on bonds payable	$780,000
Purchase of fixed equipment	$5,300,000
Beginning of cash balance	$6,500,000
Cash from operating activities	$3,900,000
Principal payment on notes payable	$6,500