| Using the data below and the format found in Exhibit 4.1, create a Balance Sheet for TMJ Center for the fiscal year ended 12/31/2019 | ||
| Accounts payable | 405,000 | |
| Accrued expenses | 465,000 | |
| Cash | 950,000 | |
| Inventory | 285,000 | |
| Long-term debt | 6,830,000 | |
| Long-term investments | 3,250,000 | |
| Net patient accounts receivable | 2,275,000 | |
| Net property and equipment | 4,150,000 | |
| Notes payable | 350,000 | |
| Other long-term liabilities | 430,000 | |
| Short-term investments | 700,000 | |
| BALANCE SHEET: | ||
| Assets | ||
| Current Assets | ||
| Cash | ||
| Short-term investments | ||
| Net patient accounts receivable | ||
| Inventory | ||
| Total current assets | ||
| Long-term investments | ||
| Net property and equipment | ||
| Total assets | ||
| Liabilities and Equity | ||
| Current Liabilities: | ||
| Notes payable | ||
| Accounts payable | ||
| Accrued expenses | ||
| Total current liabilities | ||
| Long-term debt | ||
| Other long-term liabilities | ||
| Total long-term liabilities | ||
| Total liabilities | ||
| Net assets (Equity) | ||
| Total liabilities & equity | ||
| Based upon your Balance Sheet, answer the following questions: | ||
| How much does the hospital own? | ||
| What % of the hospital’s assets are current? | ||
| How much does the hospital owe to others? | ||
| What are current assets minus current liabilities? | ||
| What is the hospital’s net assets (equity)? | ||
| If the hospital earned $700,000 in 2019, what was the net assets (equity) balance on 12/31/2018? | ||
| If the net assets (equity) balance was $1,350,000 on 12/31/18, what was the hospital’s net income in 2019? | ||
