HCS 405 Week 5 Benchmark Assignment”\ufffdIncome Statement Worksheet and Template\t\u00a0\tComplete the Income Statement Worksheet and Template.\tFormat your assignment according to APA guidelines.\tClick the Assignment Files tab to submit your assignment.\tIncome Statement Worksheet\tResource: Week Two Operating Budget Assignment\tConsider the following scenario:\tA month after submitting and receiving approval of the ABC Health Care Operating Budget, you receive an email from the chief financial officer (CFO) informing you the financial data of the organization has been reported and it shows the organization reported a loss for the month. He is requesting you to complete and review the income statement to determine what category(s) suffered a loss and adjust your expenses to show a profit for the incoming month. You will be responsible for presenting the adjusted budget to the board of directors showing a profit and will need to explain your new budgetary figures.\tComplete an income statement using the ABC Health Care Income Statement Template.\tThe CFO provided you with the following figures to input in the income statement:\tYour clinic received $175,000 from the government as fee-for services reimbursements, as well as $80,000 from private payers. The clinic had a fund-raiser that brought in $26,000 and the grants department brought in $25,000.\tCategories \ufffd\u00a0 Monthly Expense\tMonthly salaries \ufffd\u00a0\u00a0\u00a0\u00a0 $165,000\tMonthly benefits \ufffd\u00a0\u00a0\u00a0 $\u00a0 42,500\tMonthly rent\u00a0\u00a0 $\u00a0 80,000\tMonthly insurance \ufffd $\u00a0\u00a0\u00a0 3,750\tMonthly depreciation\u00a0 $\u00a0\u00a0\u00a0 1,700\tMonthly overhead \ufffd\u00a0 $\u00a0 18,000\tMonthly supplies \ufffd\u00a0\u00a0\u00a0 $\u00a0\u00a0\u00a0 4,500\tMonthly utilities \ufffd\u00a0\u00a0\u00a0\u00a0 $\u00a0\u00a0\u00a0 7,600\tWrite a 700- to 1,050-word executive summary that explains the adjusted budget showing a profit and your new budgetary figures.\tInclude the following in your summary:\tSummarize the scenario.\tAnalyze the monthly revenues you think need to be adjusted.\tWhich revenues can be increased and by how much?\tHow will the adjustments affect the organization?\tAnalyze the monthly expenses you think need to be adjusted.\tWhich expenses can be cut and by how much?\tAre the expenses variable or fixed?\tHow will the adjustments affect the organization?\tExplain your budgetary recommendation to your CFO.\tAre you recommending a profit or a breakeven point?\tHow much of the expenses do you propose should be cut to make a profit?\tHow much of the revenues do you propose to increase to make a profit? If applicable.\tAnalyze how you determine if your recommendations are ethically sound.\tCite at least 2 sources, including your textbook.\tFormat your assignment according to APA guidelines.\tClick the Assignment Files tab to submit your assignment.<\/p>\n","protected":false},"excerpt":{"rendered":"
HCS 405 Week 5 Benchmark Assignment”\ufffdIncome Statement Worksheet and Template \u00a0 Complete the Income Statement Worksheet and Template. Format your assignment according to APA guidelines. Click the Assignment Files tab to submit your assignment. Income Statement Worksheet Resource: Week Two Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-219270","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/219270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=219270"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/219270\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=219270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=219270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=219270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}