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Balance Sheet for Current Assets

BestCare HMO
Balance Sheet
June 30, 2007
(in thousands)

Assets
Current Assets
Cash $2,737
Net premiums receivable 821
Supplies 387
Total current assets $3,945
Net property and equipment $5,924
Total assets $9,869

Liabilities and Net Assets
Accounts payable-medical services $2,145
Accrued expenses 929
Notes payable 382

Total current liabilities $3,456

Long-term debt $4,295

Total liabilities $7,751

Net assets-unrestricted (equity) $2,118

Total liabilities and net assets $9,869

a. How does this balance sheet differ from Sunnyvale?

Sunnyvale Clinic
Balance Sheet
December 31,2007 and 2006
(in thousands)
______________________________________________________________.
ASSETS 2007 2006
Current Assets:
Cash $ 12,102 $ 6,486
Short-term investments $ 10,000 5,000
Net patient accounts receivable $ 28,509 25,927
Inventories 3,695 2,302
$ 54,306 $ 39,715
Long-Term investments $ 48,059 $ 25,837

Property and Equipment (Fixed Assets:
Land $ 2,954 $ 2,035
Building and equipment 85,595 $ 77,208
Gross fixed assets 88,549 $ 79,243
Less: Accumulated depreciation 36,099 $ 29,694
Net fixed assets $ 52,450 $ 49,549
Total assets $154,815 $115,101

LIABILITIES AND EQUITY 2007 2006
Current Liabilities
Notes payable 4,334 3,345
Accounts payable 5,022 6,933
Accrued expenses: 6,069 5,037
Total current liabilities $ 15,425 $ 15,315
Long-term debt $ 85,322 $ 53,578
Total liabilities $100,747 $ 68,893
Net assets (Equity) 54,068 $ 46,208
Total liabilities and equity $ 154,815 $,115,101

b. What is BestCare's net working capital for 2007?
c. What is BestCare's debt ratio? How does it compare with Sunnyvale's debt ratio?

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Solution Summary

Balance sheets for current assets are examined.

$2.19