Multiple Statements. The following are account balances at September 30, 20X1 for Valley Medical 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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Administrative Expense Cash $350,000 $20,000 Net Patient Revenues Gross Accounts Receivable $960,000 $225,000 Ending Balance, Temporarily Restricted Net Assets $8,000 Wages Payable $35,000 Prepaid Expenses $5,000 Long-term Debt $650,000 Supply Expense $200,000 Gross Plant, Property, and Equipment $800,000 Net Assets Released from Temporary Restriction $35,000 Less Uncollectibles in Accounts Receivable $15,000 Inventory $20,000 Premium Revenues $150,000 Long-term Investments, Unrestricted $35,000 Depreciation Expense $15,000 General Expense $100,000 Transfer to Parent Corporation $5,000 Beginning Balance, Unrestricted Net Assets $474,000 Accounts Payable $78,000