Q1. Balance sheet. The following are account balances as of September 30, 2020, for Ray
Hospital. Prepare a balance sheet at September 30, 2020. (Hint net assets will also need
to be calculated.) (3 Marks) Also Find out the Current Ratio (1 Mark) and Net Working Capital (1 Mark)
Givens
Gross plant, property, and equipment $70,000,000
Accrued expenses $6,000,000
Cash $8,000,000
Net accounts receivable $15,500,000
Accounts payable $7,000,000
Long-term debt $45,000,000
Supplies $3,000,000
Accumulated depreciation $5,000,000