Question: Financial Statement Preparation Case Study Given below is a list of account balances for ABC Hospital System as of December 31, 2022 and 2021. Display

Financial Statement Preparation Case Study Given below is a list of account balances for ABC Hospital System as of December 31, 2022 and 2021.

Display this information formatted Balance Sheet (50pts) and Income Statement (50pts). Students must add accounts and subtotals as necessary to create properly formatted Financial Statements.

For Depreciation Expense in 2022, students must first calculate the amount and then include it in a Financial Statement. (in thousands) Fiscal Year

Accounts 2022 2021
Property, Plant, and Equipment (cost) 1,551,174 1,465,030
Accounts Payable 330,972 315,870
Other Long Term Assets 527,399 317,874
Long Term Debt 765,559 602,664
Accounts Receivable, Net 241,175 240,272
Cash and Investments 1,834,888 1,746,513
Accrued Payroll 289,928 234,428
Accumulated Depreciation 750,000 734,000
Net Patient Revenue 1,853,614 1,806,556
Salaries and Wages 1,530,196 1,446,314
Supplies Expense 90,012 85,077
Other Operating Expenses 180,023 170,155
Cafeteria and Gift Shop Sales 83,977 90,518
Depreciation Expense ? 15,000
Gross Patient Revenue 9,268,070 9,032,780
Investment Income 20,000 20,000

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