Can you forecast 2014 Balance Sheet? Jan - Dec 13 Ordinary Income/Expense Income Fee Income 11,797,230.41 Reimbursed
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Can you forecast 2014 Balance Sheet?
Jan - Dec 13 | |||||||
Ordinary Income/Expense | |||||||
Income | |||||||
Fee Income | 11,797,230.41 | ||||||
Reimbursed Expenses - SN | 1,500,000.00 | ||||||
Total Income | 13,297,230.41 | ||||||
Gross Profit | 13,297,230.41 | ||||||
Expense | |||||||
Salaries | |||||||
Officers salary - J | 1,786,417.22 | ||||||
Officers salary - F | 1,786,417.22 | ||||||
Officers salary - B | 1,786,417.22 | ||||||
Doctors Salaries | 838,612.40 | ||||||
Salaries | 621,188.24 | ||||||
Total Salaries | 6,819,052.30 | ||||||
1099's | |||||||
1099 - S | 0.00 | ||||||
1099 - V | 525.00 | ||||||
1099 - M | 577.19 | ||||||
Covering Physician - 1099 | 452,024.86 | ||||||
Total 1099's | 453,127.05 | ||||||
Payroll Taxes | |||||||
Fica and Medicare | 185,029.87 | ||||||
FUI | 1,242.25 | ||||||
SUI | 7,030.19 | ||||||
Total Payroll Taxes | 193,302.31 | ||||||
Fee - B | 435,070.00 | ||||||
Fee - J | 435,070.00 | ||||||
Fee - F | 429,350.00 | ||||||
Insurance | |||||||
Medical Insurance | 134,088.06 | ||||||
Malpracitce Insurance | 194,632.00 | ||||||
Dental | 10,840.00 | ||||||
Insurance - Other | 0.00 | ||||||
Total Insurance | 339,560.06 | ||||||
Medical Expense | |||||||
Medical Supplies | 174,552.55 | ||||||
Medical Expense - Other | 25,757.77 | ||||||
Total Medical Expense | 200,310.32 | ||||||
General & Admin Expenses | |||||||
Rent | |||||||
M1 | 50,000.00 | ||||||
M2 | 190,000.00 | ||||||
Rent - Other | 17,449.11 | ||||||
Total Rent | 257,449.11 | ||||||
Professional Development | 45,625.00 | ||||||
Automobile Expense | 18,733.44 | ||||||
Utilities | 14,557.84 | ||||||
Repairs and Maintenance | 78,833.66 | ||||||
Advertising and Promotion | 3,000.00 | ||||||
Licenses & Permits | 1,893.20 | ||||||
Janitorial Expense | 460.00 | ||||||
Insurance Expense | 73,217.19 | ||||||
Dues and Subscriptions | 1,305.30 | ||||||
Payroll Expenses | 3,647.35 | ||||||
Depreciation Expense | 61,122.00 | ||||||
Bank Service Charges | 2,465.68 | ||||||
Total General & Admin Expenses | 562,309.77 | ||||||
Office Expenses | |||||||
Office Supplies | 36,615.36 | ||||||
Waste Removal | 767.13 | ||||||
Computer and Internet Expenses | 1,400.00 | ||||||
Total Office Expenses | 38,782.49 | ||||||
Interest expense-line of credit | 26,135.41 | ||||||
Taxes | 2,189.42 | ||||||
Reimbursement | 2,655.00 | ||||||
Professional Fees | |||||||
Legal Fees | 7,500.00 | ||||||
Accounting Fees | 17,500.00 | ||||||
Total Professional Fees | 25,000.00 | ||||||
Dental expense - Out of pocket | 12,148.85 | ||||||
Provision for Local Income Tax | |||||||
NYS Tax | 3,415.00 | ||||||
NYC Tax | 489,665.00 | ||||||
Total Provision for Local Income Tax | 493,080.00 | ||||||
Billing Service Fees Paid | 2,150.00 | ||||||
Outside Services | 658.61 | ||||||
Laboratory Fees | 868.00 | ||||||
Total Expense | 10,470,819.59 | ||||||
Net Ordinary Income | 2,826,410.82 | ||||||
Other Income/Expense | |||||||
Other Income | |||||||
Interest Income | 684.34 | ||||||
Total Other Income | 684.34 | ||||||
Other Expense | |||||||
Suspense | 250.00 | ||||||
Total Other Expense | 250.00 | ||||||
Net Other Income | 434.34 | ||||||
Net Income | 2,826,845.16 |
Jan - Dec 12 | |||||||
Ordinary Income/Expense | |||||||
Income | |||||||
Fee Income | 7,766,774.72 | ||||||
Reimbursed Expenses - SN | 2,475,000.00 | ||||||
Refunds | 4,190,412.66 | ||||||
Total Income | 14,432,187.38 | ||||||
Cost of Goods Sold | 0.00 | ||||||
Vaccines and Medicines | 0.00 | ||||||
Total COGS | 0.00 | ||||||
Gross Profit | 14,432,187.38 | ||||||
Expense | |||||||
Salaries | |||||||
Officers salary - J | 1,750,000.04 | ||||||
Officers salary - F | 1,850,000.04 | ||||||
Officers salary - B | 1,850,000.04 | ||||||
Doctor Salaries | 0.00 | ||||||
Salaries | 791,446.86 | ||||||
Officers salary | 0.00 | ||||||
Total Salaries | 6,241,446.98 | ||||||
Covering Physician - W-2 | 779,807.76 | ||||||
1099's | |||||||
1099 - J | 0.00 | ||||||
1099 - F | 0.00 | ||||||
1099 - B | 0.00 | ||||||
1099 - K | 109,118.71 | ||||||
1099 - P | 750.00 | ||||||
Covering Physician - 1099 | 753,030.34 | ||||||
Total 1099's | 862,899.05 | ||||||
Payroll Taxes | |||||||
Fica and Medicare | 176,099.95 | ||||||
FUI | 1,079.74 | ||||||
SUI | 7,421.70 | ||||||
MCTMT | 0.00 | ||||||
Total Payroll Taxes | 184,601.39 | ||||||
Insurance | |||||||
Malpracitce Insurance | 221,541.00 | ||||||
Dental | 20,000.00 | ||||||
Insurance - Other | 123,512.50 | ||||||
Total Insurance | 365,053.50 | ||||||
Medical Expense | |||||||
Medical Reimbursement | 9,750.00 | ||||||
Medical Supplies | 189,368.81 | ||||||
Total Medical Expense | 199,118.81 | ||||||
General & Admin Expenses | |||||||
Rent | |||||||
ND | 200,000.00 | ||||||
AP | 1,631,300.00 | ||||||
Rent - Other | 13,700.00 | ||||||
Total Rent | 1,845,000.00 | ||||||
Professional Development | 68,120.00 | ||||||
Automobile Expense | 48,042.28 | ||||||
Telephone | 18,600.00 | ||||||
Utilities | 10,419.59 | ||||||
Repairs and Maintenance | 13,430.00 | ||||||
Continuing Education | 31,500.00 | ||||||
Advertising and Promotion | 32,000.00 | ||||||
Licenses & Permits | 1,393.20 | ||||||
Janitorial Expense | 12,670.00 | ||||||
Insurance Expense | 31,303.16 | ||||||
Dues and Subscriptions | 6,640.86 | ||||||
Payroll Expenses | 4,169.22 | ||||||
Depreciation Expense | 37,499.00 | ||||||
Bank Service Charges | 4,350.54 | ||||||
General & Admin Expenses - Other | 300.00 | ||||||
Total General & Admin Expenses | 2,165,437.85 | ||||||
Office Expenses | |||||||
Office Supplies | 20,555.38 | ||||||
Security | 300.00 | ||||||
Computer and Internet Expenses | 300.00 | ||||||
Total Office Expenses | 21,155.38 | ||||||
Professional Fees | |||||||
Legal Fees | 232,260.00 | ||||||
Accounting Fees | 36,500.00 | ||||||
Consulting | 10,400.00 | ||||||
Professional Fees - Other | 24,230.76 | ||||||
Total Professional Fees | 303,390.76 | ||||||
Provision for Local Income Tax | |||||||
NYS Tax | 3,550.00 | ||||||
NYC Tax | 125,075.00 | ||||||
Total Provision for Local Income Tax | 128,625.00 | ||||||
Billing Service Fees Paid | |||||||
Billing Services - NA | 4,520.00 | ||||||
Billing Service Fees Paid - Other | 1,125.00 | ||||||
Total Billing Service Fees Paid | 5,645.00 | ||||||
Contributions | 6,900.00 | ||||||
Outside Services | 2,100.00 | ||||||
Reference Materials | -179.77 | ||||||
Total Expense | 11,266,001.71 | ||||||
Net Ordinary Income | 3,166,185.67 | ||||||
Other Income/Expense | |||||||
Other Income | |||||||
Interest Income | 220.29 | ||||||
Total Other Income | 220.29 | ||||||
Other Expense | |||||||
Penalties | 3,480.86 | ||||||
Suspense | 0.00 | ||||||
Total Other Expense | 3,480.86 | ||||||
Net Other Income | -3,260.57 | ||||||
Net Income | 3,162,925.10 |
Jan - Dec 10 | Jan - Dec 11 | ||||||
Ordinary Income/Expense | |||||||
Income | |||||||
Fee Income | 13,552,270.78 | 11,512,836.17 | |||||
Reimbursed Expenses - SN | 0.00 | 3,000,000.00 | |||||
Refunds | -2,730.69 | 0.00 | |||||
Total Income | 13,549,540.09 | 14,512,836.17 | |||||
Cost of Goods Sold | |||||||
Vaccines and Medicines | 15,703.88 | 0.00 | |||||
Total COGS | 15,703.88 | 0.00 | |||||
Gross Profit | 13,533,836.21 | 14,512,836.17 | |||||
Expense | |||||||
Salaries | |||||||
Officers salary - J | 0.00 | 2,224,000.12 | |||||
Officers salary - F | 0.00 | 2,224,000.12 | |||||
Officers salary - B | 0.00 | 2,224,000.12 | |||||
Doctor Salaries | 0.00 | 0.00 | |||||
Salaries | 1,216,811.95 | 466,166.68 | |||||
Officers salary | 8,300,000.36 | 0.00 | |||||
Total Salaries | 9,516,812.31 | 7,138,167.04 | |||||
Covering Physician - W-2 | 0.00 | 862,618.25 | |||||
1099's | |||||||
1099 - J | 0.00 | 183,876.66 | |||||
1099 - F | 0.00 | 183,876.66 | |||||
1099 - B | 0.00 | 183,876.66 | |||||
1099 - K | 0.00 | 0.00 | |||||
1099 - P | 0.00 | 0.00 | |||||
Covering Physician - 1099 | 0.00 | 636,069.56 | |||||
Total 1099's | 0.00 | 1,187,699.54 | |||||
Payroll Taxes | |||||||
Fica and Medicare | 212,101.46 | 187,421.03 | |||||
FUI | 1,398.92 | 1,356.02 | |||||
SUI | 6,789.08 | 7,637.18 | |||||
MCTMT | -14,848.86 | 0.00 | |||||
Total Payroll Taxes | 205,440.60 | 196,414.23 | |||||
Insurance | |||||||
Malpracitce Insurance | 207,841.64 | 207,731.62 | |||||
Dental | 0.00 | 27,647.31 | |||||
Insurance - Other | 103,791.62 | 175,268.74 | |||||
Total Insurance | 311,633.26 | 410,647.67 | |||||
Medical Expense | |||||||
Medical Supplies | 91,996.49 | 103,847.36 | |||||
Total Medical Expense | 91,996.49 | 103,847.36 | |||||
General & Admin Expenses | |||||||
Rent | |||||||
ND | 65,000.00 | 111,950.00 | |||||
M1 | 330,000.00 | 0.00 | |||||
AP | 1,440,000.00 | 1,483,200.00 | |||||
Rent - Other | 18,325.62 | 11,797.08 | |||||
Total Rent | 1,853,325.62 | 1,606,947.08 | |||||
Professional Development | 62,105.80 | 41,285.37 | |||||
Automobile Expense | 40,126.84 | 29,474.07 | |||||
Telephone | 19,015.19 | 3,750.00 | |||||
Utilities | 15,416.17 | 10,762.83 | |||||
Repairs and Maintenance | |||||||
Tenant Improvements | 145,833.31 | 274,999.98 | |||||
Repairs and Maintenance - Other | 200.00 | 8,450.00 | |||||
Total Repairs and Maintenance | 146,033.31 | 283,449.98 | |||||
Continuing Education | 15,000.00 | 15,000.00 | |||||
Advertising and Promotion | 70,000.00 | 15,700.00 | |||||
Licenses & Permits | 3,014.72 | 930.00 | |||||
Janitorial Expense | 12,882.95 | 12,375.00 | |||||
Meals and Entertainment | 24,750.00 | 0.00 | |||||
Insurance Expense | 37,091.41 | 27,320.81 | |||||
Dues and Subscriptions | 4,500.00 | 8,471.40 | |||||
Payroll Expenses | 3,449.51 | 3,577.43 | |||||
Depreciation Expense | 78,157.00 | 33,711.00 | |||||
Bank Service Charges | 940.00 | 191.04 | |||||
Total General & Admin Expenses | 2,385,808.52 | 2,092,946.01 | |||||
Office Expenses | |||||||
Office Supplies | 34,109.12 | 31,561.12 | |||||
Computer and Internet Expenses | 5,620.75 | 1,804.80 | |||||
Total Office Expenses | 39,729.87 | 33,365.92 | |||||
Professional Fees | |||||||
Legal Fees | 65,450.00 | 202,410.00 | |||||
Accounting Fees | 36,000.00 | 36,000.00 | |||||
Pension Fees | 3,600.00 | -2,500.00 | |||||
Total Professional Fees | 105,050.00 | 235,910.00 | |||||
Provision for Local Income Tax | |||||||
NYS Tax | 3,750.00 | 5,000.00 | |||||
NYC Tax | 354,798.00 | 0.00 | |||||
Total Provision for Local Income Tax | 358,548.00 | 5,000.00 | |||||
Billing Service Fees Paid | |||||||
Billing Services - NA | 0.00 | 725,641.80 | |||||
Billing Service Fees Paid - Other | 68,075.26 | 1,725.00 | |||||
Total Billing Service Fees Paid | 68,075.26 | 727,366.80 | |||||
Contributions | 8,900.00 | 6,899.00 | |||||
Outside Services | 11,694.30 | 2,992.39 | |||||
Travel Expense | 12,375.00 | 0.00 | |||||
Total Expense | 13,116,063.61 | 13,003,874.21 | |||||
Net Ordinary Income | 417,772.60 | 1,508,961.96 | |||||
Other Income/Expense | |||||||
Other Income | |||||||
Interest Income | 213.34 | 279.64 | |||||
Total Other Income | 213.34 | 279.64 | |||||
Other Expense | |||||||
Penalties | 1,017.04 | 12,495.50 | |||||
Suspense | 0.00 | 2,500.00 | |||||
Total Other Expense | 1,017.04 | 14,995.50 | |||||
Net Other Income | -803.70 | -14,715.86 | |||||
416,968.90 | 1,494,246.10 |
Dec 31, 10 | Dec 31, 11 | Dec 31, 12 | Dec 31, 13 | |||||
ASSETS | ||||||||
Current Assets | ||||||||
Checking/Savings | ||||||||
Bank of America (222) | 1,078,929.69 | 54,752.44 | -1,261,532.73 | 408,101.06 | ||||
Bank of America (134) | 1,249,644.46 | 222,115.13 | 215,969.52 | 75,867.04 | ||||
Citibank - Checking (058) | 24,427.92 | 3,524,427.92 | 192,421.09 | 333,189.09 | ||||
Chase Savings (494) | 0.00 | 0.00 | 175,103.90 | 175,682.23 | ||||
Chase Checking (009) | 0.00 | 0.00 | 90,100.00 | 89,200.00 | ||||
Citibank - Money Market (066) | 25,022.65 | 25,097.06 | 25,133.61 | 25,182.18 | ||||
Citibank - B (576) | 1,000.00 | 1,000.00 | 1,000.00 | 1,000.00 | ||||
Citibank - F (381) | 1,000.00 | 1,000.00 | 1,000.00 | 1,000.00 | ||||
Citibank - J (509) | 1,000.00 | 1,000.00 | 1,000.00 | 120,090.57 | ||||
Bank of America (854) | 5,897.33 | 5,897.82 | 5,897.83 | 5,897.83 | ||||
Bank of America (162) | 11,649.13 | 0.00 | 0.00 | 0.00 | ||||
Bank of America (519) | 664.57 | 0.00 | 0.00 | 0.00 | ||||
Bank of America Savings (330) | 116,555.37 | 128,953.81 | 45,325.00 | 45,382.44 | ||||
Total Checking/Savings | 2,515,791.12 | 3,964,244.18 | -508,581.78 | 1,280,592.44 | ||||
Other Current Assets | ||||||||
DUE FROM AFFILIATES | ||||||||
Due From UF | 790,000.00 | 790,000.00 | 790,000.00 | 790,000.00 | ||||
Due From NA | 0.00 | 199,711.96 | 199,711.96 | 199,711.96 | ||||
Due from M34 | 0.00 | 0.00 | 0.00 | 3,500,000.00 | ||||
Due from BOX | 0.00 | 0.00 | 769,800.00 | 1,305,070.53 | ||||
Total DUE FROM AFFILIATES | 790,000.00 | 989,711.96 | 1,759,511.96 | 5,794,782.49 | ||||
Loan Receivable - S | 0.00 | 0.00 | 0.00 | 60,085.00 | ||||
Prepaid Expense - Allied | 379,166.69 | 154,166.71 | 0.00 | 0.00 | ||||
Total Other Current Assets | 1,169,166.69 | 1,143,878.67 | 1,759,511.96 | 5,854,867.49 | ||||
Total Current Assets | 3,684,957.81 | 5,108,122.85 | 1,250,930.18 | 7,135,459.93 | ||||
Fixed Assets | ||||||||
Improvements - Holly Ave | 0.00 | 0.00 | 154,166.71 | 154,166.71 | ||||
Computer | 33,187.20 | 33,187.20 | 33,187.20 | 33,187.20 | ||||
Furniture and Equipment | 844,237.75 | 844,237.75 | 844,237.75 | 848,537.75 | ||||
Leasehold improvements | 900,095.32 | 900,095.32 | 900,095.32 | 900,095.32 | ||||
Medical Equipment | 33,000.00 | 33,000.00 | 33,000.00 | 68,000.00 | ||||
Accumulated Depreciation | -632,537.30 | -666,248.30 | -703,747.30 | -764,869.30 | ||||
Total Fixed Assets | 1,177,982.97 | 1,144,271.97 | 1,260,939.68 | 1,239,117.68 | ||||
Other Assets | ||||||||
Security Deposits Asset | 20,024.47 | 20,024.47 | 47,024.47 | 47,024.47 | ||||
Total Other Assets | 20,024.47 | 20,024.47 | 47,024.47 | 47,024.47 | ||||
TOTAL ASSETS | 4,882,965.25 | 6,272,419.29 | 2,558,894.33 | 8,421,602.08 | ||||
LIABILITIES & EQUITY | ||||||||
Liabilities | ||||||||
Current Liabilities | ||||||||
Other Current Liabilities | ||||||||
Advance from SN | 0.00 | 0.00 | 0.00 | 4,153,385.41 | ||||
Total Other Current Liabilities | 0.00 | 0.00 | 0.00 | 4,153,385.41 | ||||
Total Current Liabilities | 0.00 | 0.00 | 0.00 | 4,153,385.41 | ||||
Long Term Liabilities | ||||||||
Loan - J | 0.00 | 137,534.57 | 0.00 | 0.00 | ||||
Loan - F | 188,487.75 | 137,534.57 | 0.00 | 0.00 | ||||
Loan - B | 188,487.75 | 137,534.56 | 0.00 | 0.00 | ||||
Total Long Term Liabilities | 376,975.50 | 412,603.70 | 0.00 | 0.00 | ||||
Total Liabilities | 376,975.50 | 412,603.70 | 0.00 | 4,153,385.41 | ||||
Equity | ||||||||
Distributions - Tax Payments | 0.00 | 0.00 | 0.00 | -96,000.00 | ||||
Distributions | 0.00 | -140,420.26 | -6,463,846.36 | -254,223.82 | ||||
Capital Stock | 3,000.00 | 3,000.00 | 3,000.00 | 3,000.00 | ||||
Retained Earnings | 4,086,020.85 | 4,502,989.75 | 5,856,815.59 | 1,788,595.33 | ||||
Net Income | 416,968.90 | 1,494,246.10 | 3,162,925.10 | 2,826,845.16 | ||||
Total Equity | 4,505,989.75 | 5,859,815.59 | 2,558,894.33 | 4,268,216.67 | ||||
TOTAL LIABILITIES & EQUITY | 4,882,965.25 | 6,272,419.29 | 2,558,894.33 | 8,421,602.08 |
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0133400694
1st canadian edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford, David A. Stangeland, Andras Marosi
Posted Date: