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WV Radiation Therapy Services Statement

Legal
0415

West Virginia Radiation Therapy Services, Inc.
Statement of Revenues and Expenses
For the Twelve Months Ending December 31, 2016
NET PATIENT SERVICE REVENUE        YTD
FEE FOR SERVICE REVENUE    $    8,593,076
OTHER INCOME        396
TOTAL NPS REVENUE        8,593,472

EXPENSES
COST OF THERAPY SERVICES
PHYSICIAN COMPENSATION        1,513,026
SALARIES & BENEFITS        1,256,081
MEDICAL SUPPLIES        142,857
OCCUPANCY COSTS – RENT        330,360
DEPRECIATION & AMORTIZATION        437,841
REPAIRS, MAINTENANCE & OTHER        850,073
TOTAL DIRECT COSTS        4,530,239

CENTER GROSS MARGIN        4,063,233

GENERAL & ADMIN EXPENSES
SALARIES – INDIRECT        108,351
DEPRECIATION & AMORTIZATION        866
BAD DEBTS        42,831
OTHER GENERAL & ADMINISTRATIVE        299,578
TOTAL G & A EXPENSES        451,626

TOTAL OPERATING EXPENSES        4,981,865

TOTAL OPERATING INCOME        3,611,607

INTEREST EXPENSE (NET)        2,694

EARNINGS BEFORE TAXES        3,608,913

INCOME TAX EXPENSE        –

NET INCOME (LOSS)    $    3,608,913

West Virginia Radiation Therapy Services, Inc.
Balance Sheet
As of December 31, 2016

ASSETS        YTD

CASH        $        –
ACCOUNTS RECEIVABLE            25,777,004
PREPAID EXPENSES            19,471
DEFERRED INCOME TAXES            26,259
TOTAL CURRENT ASSETS            22,822,735

PROP, PLANT & EQUIPMENT, NET            1,079,140
GOODWILL, NET            17,929,841
OTHER ASSETS            16,331

TOTAL ASSETS    $        44,848,047

LIABILITIES & EQUITY

CURRENT LIABILITIES
ACCOUNTS PAYABLE    $        1,646,249
ACCRUED EXPENSES            3,093,696
TOTAL CURRENT LIABILITIES            4,739,945

LONG-TERM LIABILITIES
DEFERRED INCOME TAXES            3,429,838
TTL LONG TERM LIABILITIES            3,429,838

TOTAL LIABILITIES            8,169,783

EQUITY
PAID IN CAPITAL            30,025,090
RETAINED EARNINGS            6,653,174

TOTAL STOCKHOLDER’S EQUITY            36,678,264
TOTAL LIABILITIES & EQUITY    $        44,848,047
West Virginia Radiation Therapy Services, Inc.
Statement of Equity
Additional    Retained Total
Paid in Capital    Earnings Equity
Balance, December 31, 2015    $    30,025,090    $    3,044,261            $    33,069,351

Net Income    –    3,608,913        3,608,913

Contribution of Equity    –    –    –
Balance, December 31,2016    $    30,025,090    $    6,653,174            $    36,678,264
West Virginia Radiation Therapy Services, Inc. is a wholly -owned subsidiary of Radiation Therapy Services, Inc.
Details of this ad are available for copying and public inspection at the Health Care Authority, 100 Dee Drive, Charleston, WV 25311