Multiple statements. The following are account balances (in thousands) at September 30, 20X1, for Upper Merion Hospital. 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)
Provision for bad debt $23,800
Cash $30,000
Patient revenue (net of contractuals) $275,000
Net accounts receivable $42,100
Ending balance, temporarily restricted net assets $15,900
Wages payable $6,500
Inventory $2,800
Long-term debt $143,000
Supply expense $55,000
Gross plant, property, and equipment $290,000
Net assets released from temporary restriction $2,100
Depreciation expense $13,000
General expense $19,000
Transfer to parent corporation ($2,800)
Beginning balance, unrestricted net assets $234,000
Accounts payable $15,000
Beginning balance, temporarily restricted net assets $18,000
Interest expense $9,000
Labor expense $119,000
Accumulated depreciation $35,000
Long-term investments $120,000
Ending balance, unrestricted net assets $269,500