Using the attached financial statements please calculate for 2017 and 2016: Days in Accounts receivable, Days...

Using the attached financial statements please calculate for 2017 and 2016:

Days in Accounts receivable, Days Cash on hand, equity financing percentage, cash flow to debt percentage, times interest earned, fixed asset turnover ratio, current asset turnover ratio, average age of facilities. Please show all work and calculations

Balance Sheet
Assets	2017	2016
Current Assets
Cash and Cash equivalents	$82,815	$59,696
Assets limited as to use, current portion	5,327	5,088
Accounts Receivable
Patients, less allowance for doubtful accounts ($25,302 in 2017 & $23,014 in 2016)	70,025	59,939
other	28,990	24,995
supplies	7,078	6,663
Total Current Assets	194,235	156,381
Assets limited as to use
For donor restricted purposes	84,440	67,826
board designated for specific purposes	382,835	378,413
held by trustees under bond agreement	51,038	25,937
	518,313	472,176
less current portion	5,327	5,088
	512,986	467,088
property and equipment, net	563,349	458,829
Other Assets	34,476	34,302
Total Assets	1,305,046	1,116,600
Liabilities and net assets
Current Liabilities
Accounts payable	32,572	24,631
Accrues expenses & other liabilities	58,878	53,725
Due to third-party payers	7,380	12,633
Current maturities of long-term debt	4,692	5,908
Total Current Liabilities	103,522	96,897
Long-term debt, less current maturities	439,597	332,354
Contingent professional liabilities	33,260	48,487
due to broker	15,128	19,608
Other liabilities	20,713	5,298
postretirement benefit obligation other than pensions	8,207	7,694
Total Liabilities	620,427	510,338
Net Assets
Unrestricted	600,179	538,436
temporarily restricted	55,213	40,393
Permanently restricted	29,227	27,433
total net assets	684,619	606,262

Total liabilities & net assets

1,305,046

1,116,600

Statement of Operations
	2017	2016
Unrestricted revenues & other support
Net patient service revenue	829,005	774,662
other operating revenue	27,055	29,334
total operating revenue	856,060	803,996

operating expenses
salaries and wages	371,449	329,668
employee benefits	81,532	77,231
supplies & purchased services	228,244	225,497
advertising	3,072	2,376
staff enrichment	10,767	8,591
occupancy cost	14,346	13,442
depreciation	44,392	41,627
interest	10,974	6,145
provision for bed debts	55,851	57,975
operating expenses	820,627	762,552
excess of revenue over expenses	35,433	41,444

nonoperating gains (losses)
contributions, gifts and bequests	3,189	1,318
net assets released from restrictions for research expenditures	14,070	14,474
research, education and other nonoperating expenses	(22,980)	(24,773)
change in interest rate swap value and put agreements	1,578	9,397
investment income	30,453	18,402
	26,310	18,818
excess of revenues and gains over expenses and losses	61,743	60,262

Statement of changes in Net Assets

2017 2016 Unrestricted net assets excess of revenues and gains over expenses and losses $61,743 $60,262 net assets released from restrictions for capital expenditure 0.00 119 cumulative effect of change in accounting principle 0.00 (3,943) increase in unrestricted net assets 61,743 56,438 Temporarily restricted net assets contributions, gifts and bequests 20,435 15,512 investment income 8,455 3,972 net assets released from restrictions for research expenditures (14,070) (14,474) net assets released from restrictions for capital expenditures 0.00 (119) increase in temporarily restricted net assets 14,820 4,891 permanently restricted net assets contributions, gifts and bequests 1,794 3,218 increase in permanently restricted net assets 1,794 3,218 net assets at beginning of year 606,262 541,715 net assets at the end of year 684,619 606,262

Statements of Cash Flows
	2017	2016
Operating activities
increase in net assets	78,357	64,547
adjustments to reconcile increase in net assets to net cash provided by operating activities
change in net unrealized gains and losses on investment securities	(26,358)	11,432
cumulative effect of change in accounting principles	0.00	(3,943)
depreciation	44,392	41,627
gain on sale or disposal of assets, net	(6,119)	0.00
provision for bad debts	55,851	57,975
change in interest rate swap value and put agreements	(1,578)	(9,397)
changes in operating assets & liabilities
assets limited to use	(19,779)	(14,274)
accounts receivable	(65,937)	(51,251)
other assets	(7,071)	(43)
supplies	(415)	840
accounts payable	7,941	10,613
accrued expenses and other liabilities	20,568	8,430
due to third party payers	(5,253)	(4,877)
contingent professional liabilities	(15,227)	3,743
postretirement benefit obligation, other than pensions	513	456
net cash provided by operating activities	59,885	115,878

investing activities
property and equipment acquired	(142,793)	(159,943)
Cash used in investing activities	(142,793)	(159,943)

Financing activities
repayment of long term debt	(177,294)	(5,545)
proceeds from borrowing	283,321	57,614
net cash provided from financing activities	106,027	52,069

Net increase in cash & cash equivalents	23,119	8,004

cash equivalents at beginning of year	59,696	51,692
cash equivalents at end of year	82,815	59,696

** if anything in the above tables is unclear please be specific in responding as to what is unclear**

Solutions

Expert Solution

Metrics	Formula	2017 Calculation	2017	2016 Calculation	2016
Days in Account Receivable	(Account Receivable/Net Patients Service Revenue)*Number of Days in a Year	(70025/829005)*365	31	(59939/774662)*365	28
Days Cash on Hand	(Cash and Cash Equivalents+Assets limited to use, current portion)*365/(Operating Expense - Depreciation-Provision for bad debts)	(82815+5327)*365/(820627-44392-55851)	45	(59696+5088)*365/(762552-41627-57975)	36
Equity Financing %	Total Net Assets/Total Assets	684619/1305046	52.46%	606262/1116600	54.30%
Cash Flow to Debt %	Net Cash provided by operating activities/Total Liabilities	59885/620427	9.65%	115878/510338	22.71%
Times Interest Earned	(Excess of revenue and gains over expenses and losses +Interest Expense)/Interest Expense	(61743+10974)/10974	6.63	(60262+6145)/6145	10.81
Fixed Asset Turnover Ratio	Total Operating Revenue/(Property and Equipment, Net)	856060/563349	1.52	803996/458829	1.75
Current Asset Turnover Ratio	Total Operating Revenue/Total Current Assets	856060/194235	4.41	803996/156381	5.14

What do you mean avergae age of facilities, its not clear

ekkarill92 answered 1 year ago

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