Statement of Operations. The following are annual account balances as of September 30, 20X1 for Uptown Hospital. Prepare a statement of operations for the twelve-month period ending September 30, 20X1.

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Net Patient Revenues $960,000 Supply Expense $65,000 Net Assets Released from Restriction for Operations $35,000 Depreciation Expense $45,000 Transfer to Parent Corporation $12,000 Interest Expense $16,000 Labor Expense $400,000