WE WRITE CUSTOM ACADEMIC PAPERS

100% Original, Plagiarism Free, Tailored to your instructions

Order Now!

simplified financial statements for Mercy Health Services

Solve the problem in the attachment.
PROBLEMS
The problems below are based on the following simplified financial statements for Mercy Health Services:
Mercy Health Services
Statement of Cash Flows
For the Fiscal Years Ending June 30, 2013 and 2012
2013        2012
Cash flows from operating activities
Collections from patients and third-party payers    $21,000     $16,000
Collections from other operating activities            2,000        1,400
Payments to suppliers                 (1,700)    (800)
Interest payments                    (2,000)    (2,000)    Payments to employees                (15,100)    (12,500)
Net cash from operating activities            $ 4,200    $   2,100
Cash flows from investing activities
Purchase new equipment                $ (3,000)    $          0    Purchase marketable securities                   (200)                0    Increase in sinking fund                       (200)      (200)
Net cash from investing activities            $   (3,400)    $    (200)
Cash flows from financing activities
Payments of mortgage principal            $   (2,000)    $ (1,800)
New mortgage                        1,200              0
Net cash used for financing activities            $     (800)    $ (1,800)
Net increase/(decrease) in cash                $            0    $      100
Cash, beginning of year                              500           400
Cash, end of year                        $        500    $      500
Mercy Health Services
Statement of Financial Position
As of June 30, 2013 and 2012
ASSETS                    2013        2012
Current
Cash        $500        $500
Marketable securities            400    200
Accounts receivable, net of $400
and $300 allowance for bad debts    3,000    2,000
Inventory                1,000    500
Prepaid assets                100    100
Total current assets            $5,000    $3,300
Fixed
Property, plant, and equipment    $43,000      $40,000
Less accumulated depreciation    17,800    16,000
Net property, plant, and equipment    $25,200      $24,000
Sinking fund                1,800          1,600
Investments                300    300
Total fixed assets            $27,300    $25,900
Total                    $32,300    $29,200
EQUITIES
Current liabilities
Wages payable                $700           $500
Accounts payable                  700            1,000
Notes payable                      500             500
Deferred revenue                  300             300
Taxes payable                100    100
Total current liabilities            $ 2,300    $ 2,400
Long-term liabilities
Mortgage payable            $ 4,200       $ 5,000
Bonds payable                20,000    20,000
Total long-term liabilities        $24,200    $25,000
Net Assets
Unrestricted net assets            $ 5,800    $ 1,800
Total net assets            $ 5,800    $ 1,800
Total                    $32,300    $29,200
Mercy Health Services
Statement of Operations
For the Fiscal Years Ending June 30, 2013 and 2012
2013        2012
Revenues
Patient revenues            $22,000    $17,000
Other operating revenues        2,000    1,400
Total revenues                    24,000    $18,400
Expenses
Wages for clinical services        $11,000      $9,000
Patient care supplies and food               600           400
Housekeeping services               800           500
Operation and maintenance of plant        1,200        1,000
Administrative services            2,200        2,000
Depreciation and amortization        1,800        1,200
Bad debt expense                   400           300
Interest                    2,000    2,000
Total expenses                    20,000    $16,400
Increase in unrestricted net assets        $ 4,000    $ 2,000
1.    Using these simplified financial statements for Mercy Health Services, complete the following ratios for both 2012 and 2013:
a.    Common size cash
b.    Common size current liabilities
c.    Common size wages for clinical services
d.    Current ratio
e.    Debt service coverage
f.    Plant age
g.    Revenue to assets
h.    Profit margin

Our Service Charter

  1. Excellent Quality / 100% Plagiarism-Free

    We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers.
  2. Free Revisions

    We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed.
  3. Confidentiality / 100% No Disclosure

    We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service.
  4. Money Back Guarantee

    If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit.
  5. 24/7 Customer Support

    We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.

Excellent Quality
Zero Plagiarism
Expert Writers

Instant Quote

Subject:
Type:
Pages/Words:
Single spaced
approx 275 words per page
Urgency (Less urgent, less costly):
Level:
Currency:
Total Cost: NaN

Get 10% Off on your 1st order!