Multiple statements. The following are account balances (in thousands) at September 30, 20X1, for Louis Medical Center. Prepare (a) a balance sheet, (b) a statement of operations, and (c) a statement of changes in net assets for September 30, 20X1.
Givens (in ’000s)
Inventory $7,000
Patient revenue (net of contractual allowance ) $220,000
Gross plant, property, and equipment $161,900
Net accounts receivable $65,000
Ending balance, temporarily restricted net assets $9,300
Wages payable $18,000
Long-term debt $104,000
Supply expense $18,000
Net assets released from temporary restriction $3,500
Depreciation expense $20,000
General expense $40,000
Provision for bad debt expense $12,000
Cash and cash equivalents $7,500
Transfer to parent corporation ($3,300)
Beginning balance, unrestricted net assets $70,000
Accounts payable $12,000
Beginning balance, temporarily restricted net assets $12,800
Interest expense $6,500
Labor expense $77,600
Accumulated depreciation $90,000
Long-term investments $108,000
Ending balance, unrestricted net assets $116,100