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Please construct an income statement for the firm Format (monetary figures, underlines, headings) Groupings correct Correct numbers Assume: 1) That...

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Question

Finance

Please construct an income statement for the firm

Format (monetary figures, underlines, headings)

Groupings correct

Correct numbers

Assume:

1) That 7.5% of patient services revenue is likelyuncollectable

2) That the firm has equipment with the followinginformation:

Purchase price: $3,700,000

Scrap value: $604,889

Years of use: 7

Delivery and building reading charges: $160,000

Staff to work machine: $180,000 (per year)

Date(Multiple Items)
Row LabelsAverage of Amount
General expense213646.875
Grant42717.5
Investment income31863
Other revenue9996.111111
Patient service revenue59724.82245
Supplies155944.5385
Wages376014.3947
Grand Total93643.85386

Answer & Explanation Solved by verified expert
3.9 Ratings (686 Votes)
Income Statementin NotesPatient service revenue59725Other revenue9996Total Revenue69721Staff to Work    See Answer
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Transcribed Image Text

Please construct an income statement for the firmFormat (monetary figures, underlines, headings)Groupings correctCorrect numbersAssume:1) That 7.5% of patient services revenue is likelyuncollectable2) That the firm has equipment with the followinginformation:Purchase price: $3,700,000Scrap value: $604,889Years of use: 7Delivery and building reading charges: $160,000Staff to work machine: $180,000 (per year)Date(Multiple Items)Row LabelsAverage of AmountGeneral expense213646.875Grant42717.5Investment income31863Other revenue9996.111111Patient service revenue59724.82245Supplies155944.5385Wages376014.3947Grand Total93643.85386

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