Multiple Statements. The following are account balances as of September 30, 20X1 for Hightower Outpatient Center. Prepare:

(a) balance sheet;

(b) statement of operations; and

(c) statement of changes in net assets for September 30, 20X1.

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Insurance Expense $25,000 Cash $100,000 Net Patient Revenues $600,000 Net Accounts Receivable $560,000 Ending Balance, Temporarily Restricted Net Assets $25,000 Wages Payable $50,000 Prepaid Expenses $20,000 Long-term Debt $493,000 Supply Expense $80,000 Gross Plant, Property, and Equipment $500,000 Net Assets Released from Temporary Restrictions $15,000 Depreciation Expense $5,000 General Expense $100,000 Transfer to Parent Corporation $15,000 Beginning Balance, Unrestricted Net Assets $495,000 Accounts Payable $100,000 Beginning Balance, Temporarily Restricted Net Assets $40,000 Interest Expense $8,000 Labor Expense $350,000