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Computation of Ratios (20 points each, total of 100 points plus extra credit): Refer to the partial financial statements for Regional Medical Center and the attached formulas for financial ratios. Calculate the ratios described below for the year 2011. Show your computations.
Average Age of Plant = Accumulated Depreciation/Depreciation Expense (Davies and Crawford, 2011)
|
Accumulated Depreciation (Balance Sheet) 2010 |
$ 31,846,638.00 |
|
Accumulated Depreciation (Balance Sheet) 2011 |
$ 34,964,454.00 |
|
Depreciation Expenses 2010 |
$ 4,533,401.00 |
|
Depreciation Expenses 2011 |
$ 4,675,544.00 |
|
Average Age of Plant (2010) |
7.02 |
|
Average Age of Plant (2011) |
7.48 |
|
|
9,929,331 |
|
|
Net Receivables (2011) |
10,520,409 |
|
|
Net Patient Service Revenue (2010) |
61,850,831 |
|
|
Net Patient Service Revenue (2011) |
67,534,781 |
|
|
Days in Patient Accounts Receivable (2010) |
58.60 |
Days |
|
Days in Patient Accounts Receivable (2011) |
56.86 |
Days |
Current Ratio = Total Current Assets/Total Current Liabilities
|
Current Assets (2010) |
22,102,877 |
|
|
Current Assets (2011) |
20,146,662 |
|
|
Current Liabilities (2010) |
20,552,984 |
|
|
Current Liabilities(2011) |
22,077,719 |
|
|
Current ratio(2010) |
1.08 |
Times |
|
Current Ratio (2011) |
0.91 |
Times |
|
Total Operating Revenue + Other Income (2010) |
63,129,932 |
|
Total Operating Revenue + Other Income (2011) |
68,970,606 |
|
Total Assets (2010) |
82,302,173 |
|
Total Assets (2011) |
91,921,066 |
|
Total Asset Turnover (2010) |
0.77 |
|
Total Asset Turnover (2011) |
0.75 |
long-term debt and assets owned by the organization. ___________
Long-Term Debt to Capitalization % =
(Long-Term Debt x 100)/(Long-Term Debt + Net Assets)
|
Long-Term Debt (2010) |
3,793,000 |
|
|
Long-Term Debt (2011) |
2,593,125 |
|
|
Net Assets (2010) |
57,956,189 |
|
|
Net Assets (2011) |
67,250,222 |
|
|
Long-Term Debt to Capitalization % (2010) |
6.14 |
% |
|
Long-Term Debt to Capitalization % (2011) |
5.43 |
% |
Return on Net Assets (Equity) % = 100*Excess of Revenues over Expenses/Net Assets (Brigham and Michael, 2013)
|
Excess of Revenues over Expenses (2010) |
9,154,417 |
|
Excess of Revenues over Expenses (2011) |
10,819,664 |
|
Net Assets (2010) |
57,956,189 |
|
Net Assets (2011) |
67,250,222 |
|
Return on Net Assets (Equity) % |
15.80% |
|
Return on Net Assets (Equity) % |
16.09% |
Brigham, F., and Michael C. 2013. Financial management: Theory & practice. Cengage Learning.
Davies, T. and Crawford, I., 2011. Business accounting and finance. Pearson.
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