The nominal accounts of San Antonio Clinic for the year ended December 2022 are listed below...

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The nominal accounts of San Antonio Clinic for the year ended December 2022 are listed below in alphabetical order: Depreciation expense Supplies Interest expense Contributions (from philanthropic foundations, unrestricted) Gifts and bequests (from philanthropic foundations, restricted) Investment income Other revenue (parking, cafeteria, etc.) Net patient service revenue Purchased clinic services Salaries and benefits Premium revenue (capitation contracts) Insurance Lease $212,000 1,760,000 118,000 90,000 31,000 309,000 290,000 7,420,000 2,300,000 3,500,000 1,800,000 764,000 218,000 a. Prepare a properly formatted income statement for the year ended December 31, 2022 (the first year of San Antionio Clinic). See textbook, Exhibit 3.1. c. Is San Antonio Clinic a for-profit organization? Please explain. b. Did San Antonio Clinic spend $212,000 on new fixed assets during fiscal year 2022? Please explain. The nominal accounts of San Antonio Clinic for the year ended December 2022 are listed below in alphabetical order: Depreciation expense Supplies Interest expense Contributions (from philanthropic foundations, unrestricted) Gifts and bequests (from philanthropic foundations, restricted) Investment income Other revenue (parking, cafeteria, etc.) Net patient service revenue Purchased clinic services Salaries and benefits Premium revenue (capitation contracts) Insurance Lease $212,000 1,760,000 118,000 90,000 31,000 309,000 290,000 7,420,000 2,300,000 3,500,000 1,800,000 764,000 218,000 a. Prepare a properly formatted income statement for the year ended December 31, 2022 (the first year of San Antionio Clinic). See textbook, Exhibit 3.1. c. Is San Antonio Clinic a for-profit organization? Please explain. b. Did San Antonio Clinic spend $212,000 on new fixed assets during fiscal year 2022? Please explain.

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The income statement is given below Particulars Investment income 309000 Patient ... View the full answer