Financial Statement
Answer question 1 and 2 showing your calculations / formulas. Assignments submitted without calculations will receive a zero grade.
Tropical Clinic had total assets of $500,000 and an equity balance of $350,000 at the end of 2020. At the end of 2021, Tropical Clinic had $570,000 in assets and $375,000 in equity.
What was Tropical Clinics dollar growth in assets during 2021? (Dollars)
What was Tropical Clinics growth rate in assets during 2021? (Percent)
What was Tropical Clinics growth in equity? (Percent)
Fill in the missing values labeled (a) through (i). You will have 9 answers. Below is financial statement information on three not-for- profit organizations.
Financial Statement Data on Three Not-for-Profit Clinics
Lowland Clinic Casio Clinic Jarrod Clinic
December 31, 2019:
Assets $80,000 $100,000 (g)
Liabilities $50,000 (d) $75,000
Net Assets (a) $60,000 $45,000
December 31, 2020:
Assets (b) $130,000 $180,000
Liabilities $55,000 $62,000 (h)
Net Assets $45,000 (e) $110,000
During 2020:
Total Revenue (c) $400,000 (i)
Total Expenses $330,000 (f) $360,000
Increase in Equity $15,000 $8,000 $65,000
