Prepare a balance sheet, income statement, and cash flow statement for a fictitious company. Use the information provided below to help construct your documents. Then, answer the following questions:

What is the company$$s net assets?

Do the company$$s assets exceed its total liabilities?

What portion of the company$$s current assets are reported under cash? Does it appear to have a lot of cash relative to its other assets and liabilities?

How much of this company$$s cash is tied up in transactions it cannot directly control, such as receivables and payables?

How much of the organization$$s cash flow is related to sales of goods and inventory? How predictable are those sales?

Based on the balance sheet, what is the company$$s current financial position?

Based on the company$$s cash assets, what should it do with the excess cash, if anything?

Name of Organization: Springfield Memorial Rehabilitation Center

Cash on Hand: $$13,280$

Owner's Capital: $$240,725$

Accounts Payable:

State Medical Supplies, Inc. $$12,540$

Linens $$N$$ Things $$550$

All$-$Med, Co$.$ $$1,250$

Utilities $$1,110$

Medi, Inc $$5,665$

Expenses:

Program Services $$11,500$

Salaries $$137,270$

Medical Equipment: $$126,355$

Other Assets: $$15,000$

Accounts Receivable:

Patient Accounts $$156,275$

Social Security Administration $$44,110$

Property$/$Land: $$437,442$

Mortgage: $$330,241($Monthly payment: $$8,200)$

Investments: $$42,525$

Contributions and Grants: $$64,247$