Multiple statements. The following are account balances (in thousands) at September 30, 20X1, for Sharpe 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 $4,000
Patient revenue (net of contractuals) $302,000
Gross plant, property, and equipment $375,000
Net accounts receivable $85,000
Ending balance, temporarily restricted net assets $6,000
Wages payable $6,600
Long-term debt $218,400
Supply expense $34,000
Net assets released from temporary restriction $7,000
Depreciation expense $44,000
General expense $95,000
Provision for bad debt expense $4,500
Cash and cash equivalents $18,000
Transfer to parent corporation ($3,900)
Beginning balance, unrestricted net assets $239,400
Accounts payable $11,000
Beginning balance, temporarily restricted net assets $13,000
Interest expense $6,000
Labor expense $123,000
Accumulated depreciation $22,000
Long-term investments $20,000
Ending balance, unrestricted net assets $238,000