Assignment 3

Refer to Southeastern Memorial Hospital’s financial statements below for calculating the ratios requested in problems 1-6.  Southeastern Memorial Hospital Statement of Operations For the Year Ended December 31, 2010 Revenues, Gains, Other Support Net patient service revenue $ 1,500,000 Other revenue 200,000 Total Revenue 1,700,000 Expenses Nursing Services 1,200,000 Administrative Services 200,000 Depreciation 100,000 Other Expenses 50,000 Total Expenses 1,550,000 Operating Income 150,000 Investment Income 50,000 Excess of revenues over expenses 200,000 Increase in Unrestricted Net Assets $ 200,000 Southeastern Memorial Hospital Balance Sheet As of December 31, 2010 (2009 omitted) Assets Current Assets Cash and cash equivalents $ 50,000 Net patient receivables 350,000 Total Current Assets 400,000 Properties and Equipment Gross properties and equipment $ 900,000 Less accumulated depreciation 475,000 Net Properties and Equipment 425,000 Total Assets $ 825,000 Liabilities and Net Assets Current Liabilities Accounts Payable 200,000 Salaries Payable 50,000 Total Current Liabilities 250,000 Notes Payable 200,000 Unrestricted Net Assets 375,000  Total Liabilities and Net Assets $ 825,000 2 1. What is Southeastern Memorial Hospital’s operating margin? 2. What is Southeastern Memorial Hospital’s days in accounts receivable? 3. What is Southeastern Memorial Hospital’s long-term debt to net assets ratio? 4. What is Southeastern Memorial Hospital’s age of plant? 5. What is Southeastern Memorial Hospital’s fixed asset turnover ratio? 6. What is Southeastern Memorial Hospital’s days cash on hand?

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