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show the statement of operations and balance sheet for Maryville Community Hospital for the years ended 20X0 and 20X1. Compute the following ratios for both years: current, quick, acid tests, days in accounts receivable, days cash on hand, average payment period, operating revenue per adjusted discharge, operating expense per adjusted discharge, salary and benefits as a percentage of total operating expense, operating margin, non-operating revenue, return on total assets and net assets, total asset turnover, fixed asset turnover, age of plant, long-term debt to net assets, and net assets to total assets. Comment on Maryville’s liquidity, efficient use of assets, revenue, expense and profitability, and capital structure, citing at least one ratio per category. Use the national hospital industry benchmarks listed in Exhibit 4-16a for 100 beds, and assume that its adjusted discharges were 2,200 for 20X0 and 2,400 for 20X1.
Maryville Community Hospital Statement of Operations (in thousands)Â
for the Years Ended December 31, 20X1 and 20X0
|
Revenues |
20X1 |
20X0 |
|
 |
 |
|
|
Net patient service revenue |
$16,000 |
$18,000 |
|
Net assets released from restriction |
500 |
1,000 |
|
Total operating revenues |
16,500 |
19,000 |
|
Expenses |
 |
 |
|
Salaries and benefits |
12,000 |
9,000 |
|
Supplies and other expenses |
5,000 |
6,000 |
|
Depreciation |
1,000 |
1,000 |
|
General services |
200 |
100 |
|
Total operating expenses |
18,200 |
16,100 |
|
Operating income |
(1,700) |
2,900 |
|
Non-operating income |
1.000 |
1,500 |
|
Excess of revenues over expenses |
(700) |
4.400 |
|
Increase (decrease) in net assets |
($700) |
$4,400 |
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|
Maryville Community Hospital Balance Sheet (in thousands)Â |
||
|
Current assets |
20X1 |
20X0 |
|
 |
 |
|
|
Cash and cash equivalents |
$137 |
$589 |
|
Net patent receivables |
3,600 |
2,746 |
|
Inventory |
850 |
750 |
|
Total current assets |
4,587 |
5,250 |
|
Noncurrent assets |
 |
 |
|
Plant, property, and equipment |
 |
 |
|
Gross plant, property, and equipment |
23,500 |
22,600 |
|
(less accumulated depreciation) |
(14,900) |
(13,800) |
|
Net plant. property, and equipment |
8,600 |
8,000 |
|
Board designated funds |
12,000 |
16,000 |
|
Total assets |
$25,187 |
$30,050 |
|
Current liabilities |
 |
 |
|
Accounts payable |
$1,500 |
$1400 |
|
Accrued expenses |
900 |
750 |
|
Total current liabilities |
2,400 |
2,150 |
|
Long-term liabilities |
 |
 |
|
Bonds payable |
10,500 |
7,520 |
|
Total long-term liabilities |
10,500 |
7,520 |
|
Net assets |
12.287 |
20,380 |
|
Total liabilities and net assets |
$25,187 |
$30,050 |