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  3. 2018 fiscal year for xyz hospital depreciation: 44

2018 Fiscal Year for XYZ Hospital Depreciation: 448,350 Insurance expense: 373,030 Interest expense: 280,450 Investment income: 270,900 Repairs/maintenance: 222,740 Patient Services...

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Finance

2018 Fiscal Year for XYZ Hospital

Depreciation: 448,350

Insurance expense: 373,030

Interest expense: 280,450

Investment income: 270,900

Repairs/maintenance: 222,740

Patient Services revenue: 10,725,260

Rent expense: 299,250

Salaries and benefits: 6,735,610

Supplies: 1,025,625

Utilities: 227,500

Based upon your income statement, answer the following in thespace provided:

b. What is the net patient revenue? _______________

c. What are the total expenses for the year? ______________

d. What is the hospital's bottom line for the year?______________

e. What % of net patient revenue is spent on salaries andbenefits? __________   

Answer & Explanation Solved by verified expert
3.7 Ratings (460 Votes)

Answer b
Net patient revenue = $10,725,260.00
Answer c
Total expenses for the year
Depreciation $448,350.00
Insurance Expense $373,030.00
Interest Expense $280,450.00
Repairs / Maintenance $222,740.00
Rent Expense $299,250.00
Salaries and benefits $6,735,610.00
Supplies $1,025,625.00
Utilities $227,500.00
Total expenses for the year $9,612,555.00
Answer d
Hospital's bottom line for the year
Net Patient revenue $10,725,260.00
Add : Investment Income $270,900.00
Less : Total expenses for the year $9,612,555.00
Hospital's bottom line for the year $841,805.00
Answer e
% of net patient revenue is spent on salaries and benefits = Salaries and benefits / net patient revenue
% of net patient revenue is spent on salaries and benefits = $67,35,610 / $10,725,260 = 62.80%

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Transcribed Image Text

2018 Fiscal Year for XYZ HospitalDepreciation: 448,350Insurance expense: 373,030Interest expense: 280,450Investment income: 270,900Repairs/maintenance: 222,740Patient Services revenue: 10,725,260Rent expense: 299,250Salaries and benefits: 6,735,610Supplies: 1,025,625Utilities: 227,500Based upon your income statement, answer the following in thespace provided:b. What is the net patient revenue? _______________c. What are the total expenses for the year? ______________d. What is the hospital's bottom line for the year?______________e. What % of net patient revenue is spent on salaries andbenefits? __________   

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