CHAPTER 3: INCOME STATEMENT and STATEMENT OF CHANGES IN EQUITY Homework Problem 1.1 Using the data below, create an Income Statement for High Plains Medical Center for the 2020 fiscal year. Use Exhibit 3.1 as a guide, but, note that the categories may vary somewhat from this example. Depreciation expense 90.000 General/administrative expenses 70,000 Interest expense 20.000 Investment income 40.000 Net patient services revenue 400,000 Other revenue 10,000 Purchased services 90,000 Salaries and benefits 150,000 a. INCOME STATEMENT (in thousands) Based upon your Income Statement, answer the following questions: b. How much did the hospital earn or lose from its operations? C. What is the hospital's bottom line for the year? d. What % of net patient revenue is spent on salaries & benefits? e. What %% of net operating revenue is derived from patient revenue? f. What was the approximate cash flow for the year