Multiple statements. The following are account balances (in thousands) at September 30, 20X1, for Putman Outpatient 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)
Insurance expense $70,000
Cash $23,000
Patient revenue (net of contractuals) $614,000
Net accounts receivable $25,000
Ending balance, temporarily restricted net assets $8,700
Wages payable $9,100
Prepaid expenses $1,100
Long-term debt $191,700
Supply expense $66,000
Gross plant, property, and equipment $556,000
Net assets released from temporary restriction $8,000
Depreciation expense $10,000
General expense $95,000
Transfer to parent corporation ($8,000)
Beginning balance, unrestricted net assets $203,400
Accounts payable $21,000
Beginning balance, temporarily restricted net assets $16,700
Provision for bad debt expense $5,400
Labor expense $145,000
Accumulated depreciation $99,000
Long-term investments $150,400
Ending balance, unrestricted net assets $426,000