CHAPTER 4 HOMEWORK-BALANCE SHEET Homework 1, Chapter 4 Using the data below as of 12/31/17 and the format found in Exhibit 4.1, create a Balance Sheet for XYZ Hospital for a. 12/31/17 Accounts payable Accrued expenses Cash Inventory Long-term debt Long-term investments Net patient accounts receivable Net property and equipment Notes payable Other long-term liabilities Short-term investments 401,760 485,520 968,160 295,600 6,825,760 3,844,720 2,280,720 4,196,000 346,720 420,000 800,000 **use the space below to create the Balance Sheet Curant assetS How much does the hospital own? what % of the hospital's assets are current? How much does the hospital owe to others? What are current assets minus current liabilities? What is the hospital's net assets (equity)? If the hospital earned $250,000 in 2017, what was the net assets (equity) balance on 12/31/16? If the net assets (equity) balance was $375,000 on 12/31/16, what was the hospital's net income in 2017? 122 Healthcare Finance 2015 EXHIBIT4.1 Assets Sunnyvale $ 12,102 6,48 10,000 5,0 Clinic: Current Assets: Balance Sheets Cash and cash equivalents December 31, Short-term investments 2015 and 2014 Net patient accounts receivable in thousands) Inventories 28,509 $54.306 $395 48,059 25,8 52,450 49549 $154,815 115,10 Total current assets Long-term investments Net property and equipment Total assets Liabilities and Equity Current Liabilities: Notes payable s 4.334 336 6,933 Accounts payable Accrued expenses 5,022 6,0695,037 $ 15,425 15,315 85.32253.578 $100,747 $68,893 Total current liabilities Long-term debt Total liabilities Net assets (Equity) Total liabilities and equity 54.06846,208 S154,815 $15,.10 in assets that were financed by a total of $154,815,000 in liabilities and equirn Besides the obvious confirmation that the balance sheet balances, this statcee a indicates that the total assets of Sunnyvale were v 000. Liabilities and equity represent claims against the assets of nd valued, according to GA business by various classes of credit "owners." C $100,747,000, and right side section of Exhibit 4.1) reflects the manner i needed to acquire its ors, other claimants with fixed reditors and other claimants have first priority in "owners" follow with a residual claim of $54,068. of the balance sheet (liabilities and equity, which Thc