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