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You will analyze the Cardiology Department’s balance sheet in the Portfolio Project Excel Template provided in Blackboard. In the template, you will review the first tab labeled Balance Sheet. Then, you will create a Word document and title it Westshore University Hospital Cardiology Department – Balance Sheet Analysis. In this document you will respond to the following questions in an essay of a minimum of 250 words and use at least one reference from course materials and/or a scholarly source. 1. What is the purpose of a balance sheet? 2. Explain what the balance sheet shows about the department’s assets from 2019 to 2020. Be sure to address all three asset categories. 3. Review the liabilities of the department. What do total current liabilities suggest vs. total current assets? 4. According to the balance sheet, what is the department’s 2020 net worth? Is this good or bad? Justify your answer. 5. Comparing 2019 to 2020, did the department’s net worth increase, decrease, or stay the same? Explain your answer. Template attached
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