Financial Data Analysis
Write a 700- to 1,050-word analysis of the audited financial statements of Patton-Fuller Hospital for 2008 and 2009.
Include in your analysis:
- Balance Sheet in a Microsoft® Excel® document including columns for the following:
- 2008 financial data
- 2009 financial data
- The amount of change in dollars
- The percent change
- Statement of Revenue and Expenses in a Microsoft® Excel® document including columns for the following:
- 2008 financial data
- 2009 financial data
- The amount of change in dollars
- The percent change
- Identify significant changes between the years.
- Provide possible explanations for the change based on information in the Annual Report.
Submit the Microsoft® Excel® worksheets with the written analysis.
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Note. Word count does not include the Balance Sheet or Statement of Revenue and Expenses.
FINANCIAL STATEMENTS
Patton – Fuller Community Hospital Balance Sheet 2009 – 2008 (In Thousands) (Unaudited) |
||
---|---|---|
2009 | 2008 | |
Assets | ||
Current Assets | ||
Cash and Cash Equivalents | $22,995 | $41,851 |
Assets of Limited Use | 27,594 | 41,851 |
Patient Accounts Receivable (net of Allowance for Bad Debts 2009: $10,757 2008: $6,777) |
59,787 | 37,666 |
Other Receivables (3rd party payer settlements) |
— | 87 |
Inventories | 18,396 | 8,370 |
Prepaid Expenses | 95 | 201 |
Total Current Assets | $128,867 | $130,026 |
Other Assets | ||
Funded Depreciation | $137,970 | $167,404 |
Held under Bond Indenture | 73,584 | 75,332 |
Property, Plant and Equipment, net | 248,346 | 175,774 |
Total Assets | $588,767 | $548,535 |
Liabilities and Equity | ||
Current Liabilities | ||
Current portion of long-term debt | $14,599 | $4,185 |
Accounts payable, accrued expenses | 9,198 | 4,185 |
Bond interest payable | 10 | 10 |
Total Current Liabilities | $23,807 | $8,380 |
Other Liabilities | ||
Long-term debt | $452,945 | $209,255 |
less: current portion of long-term debt | 14,599 | 4,185 |
Net long-term debt | $438,346 | $205,069 |
Total Liabilities | $462,153 | $213,450 |
Equity | ||
Common Stock, $ 0.01 par value 10,000,000 shares authorized 5,000,000 shares outstanding |
$50 | $50 |
Additional paid-in capital | 0 | 0 |
Retained Earnings (or “Net Worth” or “Unrestricted Fund Balance”) | 126,564 | 335,035 |
Total Liabilities and Equity | $588,767 | $548,535 |
Note: Maximum Annual Debt Service | ||
Bond interest payable | $10 | $10 |
Current portion of long term debt | 14,599 | 4,185 |
Maximum Annual Debt Service | $14,609 | $4,195 |
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