1. (20 points) Entries for the Hattiesburg Clinicâs 2021 income statement are listed below in alphabetical order. Reorder the data in the proper format using excel.
Depreciation expense 90,000
General/administrative expenses 70,000
Interest expense 20,000
Investment income 40,000
Net income 30,000
Net operating income (loss) (10,000)
Net operating revenues 410,000
Net patient service revenue 400,000
Other revenue 10,000
Purchased services 90,000
Salaries and benefits 150,000
Total expenses 420,000
2. (30 points) Northeast Homecare, a not-for-profit business, had revenues of $12 million in 2021. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $1.5 million. All revenues were collected in cash during the year, and all expenses other than depreciation were paid in cash. Construct Northeastâs 2021 income statement using excel.
Net operating income (loss) (10,000)
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