P18-6 (Operating Statement) Based on the following information, prepare a Statement of Revenues, Expenses, and Changes in Net Position for Hudgins County (government) Hospital for the year ended December 31, 20X7:

Patient service charges (gross). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,000,000

Premium fees earned. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000,000

Restricted contributions for heart research . . . . . . . . . . . . . . . . . . . . . . . . . 20,000,000

Medical record transcript fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,000

Cafeteria sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000

Restricted contributions for specialized equipment purchases . . . . . . . . . 6,500,000

Unrestricted income from endowments . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000,000

Donated services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330,000

Donated materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88,000

Unrestricted contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550,000

Nursing services expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,850,000

Other professional services expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,400,000

General services expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,210,000

Fiscal services expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000

Administrative expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000

Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 440,000

Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200,000

Provision for uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 430,000

Charity services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375,000

Contractual adjustments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 950,000

Equipment purchases paid from donor-restricted resources . . . . . . . . . . . 3,750,300

Also, a term endowment restricted to heart research expired during the year. The foregoing expenses include $800,000 payable from donor-restricted resources. Beginning unrestricted net position was $6,000,000 and beginning restricted net position was $1,000,000. Beginning net investment in capital assets was $15,000,000.