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Your analysis must include written explanations from the Annual Report of why changes occurred between the years that were greater than 5% (e.g., Abigail died and left you $1 Million unrestricted donations, board paid out bonuses early, miscounted supplies, etc). Do not write $45,999,999 in your papers. It is $46 million. This is an academic paper, please write it as such. Do not bulk up your paper with numbers. That’s not the point. The point is to explain the changes. Remember the reader has the excel sheets, so it’s better to say "X increased by 5% because of X" than "X was 56,555,555 and now it is 55,444,444. This means nothing to the reader. If you have questions about this, please ask them early
Patton – Fuller Community Hospital
Balance Sheet
2009 – 2008
(In Thousands)
(Unaudited)
2009
2008
Assets
Current Assets
Cash and Cash Equivalents
$22,995
$41,851
Assets of Limited Use
27,594
41,851
Patient Accounts Receivable
(net of Allowance for Bad Debts
2009: $10,757 2008: $6,777)
59,787
37,666
Other Receivables
(3rd party payer settlements)
—
87
Inventories
18,396
8,370
Prepaid Expenses
95
201
Total Current Assets
$128,867
$130,026
Other Assets
Funded Depreciation
$137,970
$167,404
Held under Bond Indenture
73,584
75,332
Property, Plant and Equipment, net
248,346
175,774
Total Assets
$588,767
$548,535
Liabilities and Equity
Current Liabilities
Current portion of long-term debt
$14,599
$4,185
Accounts payable, accrued expenses
9,198
4,185
Bond interest payable
10
10
Total Current Liabilities
$23,807
$8,380
Other Liabilities
Long-term debt
$452,945
$209,255
less: current portion of long-term debt
14,599
4,185
Net long-term debt
$438,346
$205,069
Total Liabilities
$462,153
$213,450
Equity
Common Stock, $ 0.01 par value
10,000,000 shares authorized
5,000,000 shares outstanding
$50
$50
Additional paid-in capital
0
0
Retained Earnings (or "Net Worth" or "Unrestricted Fund Balance")
126,564
335,035
Total Liabilities and Equity
$588,767
$548,535
Note: Maximum Annual Debt Service
Bond interest payable
$10
$10
Current portion of long term debt
14,599
4,185
Maximum Annual Debt Service
$14,609
$4,195
Patton – Fuller Community Hospital
Statement of Revenue and Expense
2009 – 2008
(In Thousands)
(Unaudited)
2009
2008
Revenues
Net Patient Revenue
$459,900
$418,509
Other Revenue
3,082
2,805
Total Revenues
$462,982
$421,314
Expenses
Salaries and benefits
$220,752
$214,129
Supplies
74,584
71,346
Physician and professional fees
110,376
107,065
Utilities
1,200
1,164
Other
1,840
1,785
Depreciation & Amortization
(non-cash expenses)
36,036
24,955
Interest
3,708
3,597
Provision for doubtful accounts
13,797
13,383
Total Expenses
$462,293
$437,424
Operating Income
689
(16,110)
Non-operating income (loss)
Investment income
(62)
264
Net Income
$627
($15,846)
Write a analysis of the audited financial statements of Patton-Fuller Hospital for 2008 and 2009.
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