Question

TWO PART QUESTION: PART A

Putman Medical Center Putman Medical Center is a large Midwestern acute care and ambulatory facility serving an urban city population. Revenue and expenses data listed below:

Givens (in '000s):
Insurance expense	$70,000
Cash	$23,000
Patient revenues (net of contractuals)	$614,000
Net accounts receivable	$25,000
Ending balance, temporarily restricted net assets	$8,700
Wages payable	$9,100
Prepaid expense	$1,100
Long-term debt	$191,700
Supply expense	$66,000
Gross plant, property, and equipment	$556,000
Net assets released from temporary restriction	$8,000
Depreciation expense	$10,000
General expense	$95,000
Transfer to parent corporation	($8,000)
Beginning balance, unrestricted net assets	$203,400
Accounts payable	$21,000
Beginning balance, temporarily restricted net assets	$16,700
Provision for bad debt expense	$5,400
Labor expense	$145,000
Accumulated depreciation	$99,000
Long-term investments	$150,400
Ending balance, unrestricted net assets	$426,000

Examine the data from Putman Medical Center. Reflect on how you will use this data to develop a Balance Sheet, Profit and Loss Statement, and Cash Flow Statement. PLEASE COMPLETE THE SHEETS BELOW FROM ABOVE AND SHOW WORK:

Putman Medical Center
Balance Sheet (in '000s)
For the Year Ended September 30, 2016
	9/30/2016
Current assets
Cash and cash equivalents
Net accounts receivable
Inventory
Total current assets
Gross plant, property, and equipment
(less accumulated depreciation)
Net plant, property & equipment
Long-term investments
Total assets	$0
Current liabilities
Accounts payable
Wages payable
Total current liabilities
Long-term debt
Total liabilities
Net assets
Ending balance, unrestricted net assets
Ending balance, temporarily restricted net assets
Total net assets
Total liabilities and net assets	$0

Answer 1

Putman Medical Center
Balance Sheet (in '000s)
For the Year Ended September 30, 2016
9/30/2016
Current assets
Cash and cash equivalents	$ 23,000
Net accounts receivable	$ 25,000
Inventory
Prepaid Expense	$ 1,100
Total current assets	$ 49,100
Gross plant, property, and equipment	$ 556,000
(less accumulated depreciation)	$99,000
Net plant, property & equipment	$457,000
Long-term investments	$150,400
Total assets	$656,500
Current liabilities
Accounts payable	$21,000
Wages payable	$9,100
Total current liabilities	$30,100
Long-term debt	$191,700
Total liabilities	$191,700
Net assets
Ending balance, unrestricted net assets	$426,000
Ending balance, temporarily restricted net assets	$8,700
Total net assets	$434,700
Total liabilities and net assets	$656,500
Putman Medical Center
Income Statement (in '000s)
For the Year Ended September 30, 2016
9/30/2016
Revenue from Operations	$614,000
Total revenue	$614,000
Expenses:
Insuarance Expense	$70,000
Supply Expense	$66,000
Depreciation Expense	$10,000
General Expense	$95,000
Labor Expense	$145,000
Prov. For Bad Debts	$5,400
Total Expenses	$391,400
Profit from Operations before tax	$222,600