How would the balance sheet differ if it were a not-for-profit hospital?

How would the balance sheet differ if it were a not-for-profit hospital?.

Review the Balance Sheet in the Financial Statements tab under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization on your student website. Notice that Patton-Fuller is a for-profit entity. 
 
 

Patton – Fuller Community HospitalBalance Sheet2009 – 2008(In Thousands)(Unaudited)

 
2009
2008

Assets
 
 

Current Assets
 
 

Cash and Cash Equivalents
$22,995
$41,851

Assets of Limited Use
27,594
41,851

Patient Accounts Receivable(net of Allowance for Bad Debts2009: $10,757   2008: $6,777)
59,787
37,666

Other Receivables(3rd party payer settlements)
—
87

Inventories
18,396
8,370

Prepaid Expenses
95
201

Total Current Assets
$128,867
$130,026

Other Assets
 
 

Funded Depreciation
$137,970
$167,404

Held under Bond Indenture
73,584
75,332

Property, Plant and Equipment, net
248,346
175,774

Total Assets
$588,767
$548,535

Liabilities and Equity
 
 

Current Liabilities
 
 

Current portion of long-term debt
$14,599
$4,185

Accounts payable, accrued expenses
9,198
4,185

Bond interest payable
10
10

Total Current Liabilities
$23,807
$8,380

Other Liabilities
 
 

Long-term debt
$452,945
$209,255

less: current portion of long-term debt
14,599
4,185

Net long-term debt
$438,346
$205,069

Total Liabilities
$462,153
$213,450

Equity
 
 

Common Stock, $ 0.01 par value10,000,000 shares authorized5,000,000 shares outstanding
$50
$50

Additional paid-in capital
0
0

Retained Earnings (or “Net Worth” or “Unrestricted Fund Balance”)
126,564
335,035

Total Liabilities and Equity
$588,767
$548,535

Note: Maximum Annual Debt Service
 
 

Bond interest payable
$10
$10

Current portion of long term debt
14,599
4,185

Maximum Annual Debt Service
$14,609
$4,195

 
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How would the balance sheet differ if it were a not-for-profit hospital?