Question: 1. Chapter 1 Statement of Operations Problem: Produce a Statement of Operations for Goodcare Hospital on December 31, 2021 utilizing the following data. Supplies

1. Chapter 1 Statement of Operations Problem: Produce a Statement of Operations

1. Chapter 1 Statement of Operations Problem: Produce a Statement of Operations for Goodcare Hospital on December 31, 2021 utilizing the following data. Supplies expense 2230 Nonoperating income 90 Miscellaneous expense 400 Patient Services Revenue 11500 Interest expense 1000 Depreciation expense 2100 Other operating revenue 580 2400 3400 6600 Salaries & Wages expense Other professional services revenue Deductions from patient services revenue After examining Goodcare Hospital, evaluate their operating income. Why do we want to isolate this number? How are they performing? What makes their Excess of Revenues over Expenses figure look better than it is based on operations? 2. If Net Assets is $330 at 12-31-20, construct a Statement of Net Assets for 12-31-21.

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