CHAPTER $3$: INCOME STATEMENT and STATEMENT OF CHANGES IN EQUITY

Homework Problem $1\mathrm{.}1$

Using the data below, create an Income Statement for High Plains Medical Center. Use Exhibit $3\mathrm{.}1$ as

a guide, but, note that the categories may vary somewhat from this example.

Based upon your Balance Sheet, answer the following questions:

b$.$ How much does the hospital own?

c$.$ What $\%$ of the hospital's assets are current?

d$.$ How much does the hospital owe to debtors?

e$.$ What are current assets minus current liabilities?