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Question

$1.00 Financial Analysis

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sunshine1030
sunshine1030
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Q:

Financial information may have significant differences from one year to the next. Review the financial statements for Patton-Fuller Hospital for 2008 and 2009, as well as the narrative information from the Annual Report.

Write a 700- to 1,050-word analysis of the audited financial statements of Patton-Fuller Hospital for 2008 and 2009.
Include in the analysis:
• Balance Sheet in a Microsoft® Excel® document including columns for the following:
o 2008 financial data
o 2009 financial data
o The amount of change in dollars
o The percent change
• Statement of Revenue and Expenses in a Microsoft® Excel® document including columns for the following:
o 2008 financial data
o 2009 financial data
o The amount of change in dollars
o 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.
Format the assignment consistent with APA guidelines.
Note. Word count does not include the Balance Sheet or Statement of Revenue and Expenses.
***Balance Sheet, Statement of Revenue and Expenses, and (Annual Report that I will email) attached***

Patton - Fuller Community Hospital
Balance Sheet as of December 31
2009 and 2008
(In thousands)
  (Audited)
         
      2009 2008
         
Assets      
  Currrent Assets    
    Cash and Cash Equivialents $22,995 $41,851
    Assets of Limited Use $27,594 $41,851
    Patient Accounts Receivable (1) $58,787 $37,666
      (net of Allowance for Bad Debts
   2009:  $11,757 / 2008:  $7,533)		    
         
    Other Receivables (3rd party payer settlements                  -   $87
         
    Inventories $18,396 $8,370
    Prepaid Expenses $95 $201
    Total Current Assets $127,867 $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 $587,767 $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    
    Retained Earnings (or "Net Worth" or "Unrestricted Fund Balance") $125,564 $335,035
    Total Liabilities and Equity $587,767 $548,535
         
         
         
  (1) includes adjustment due to audit    
         
         
    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
         
         
         
         
         
Patton - Fuller Community Hospital
Statement of Revenue and Expense
2009 and 2008
(In thousands)
(Audited)
       
    2009 2008
       
Revenues    
  Net Patient Revenue $459,900 $418,509
  Other Revenue $3,082 $2,805
Total Revenues $462,982 $421,314
       
       
Expenses    
  Salaries and benefits $220,752 $214,129
  Supplies $74,584 $71,346
  Physician and professional fees $110,376 $107,065
  Utilities $1,200 $1,164
  Other $1,840 $1,785
  Depreciation & Amorization                ("non-cash" expenses) $36,036 $24,955
  Interest $3,708 $3,597
  Provision for doubtful accounts (1) $14,797 $13,383
Total Expenses $463,293 $437,424
       
Operating Income ($311) ($16,110)
       
Non-operating income (loss)    
  Investment income ($62) $264
       
Net Income ($373) ($15,846)
       
(1) includes adjustment due to audit