Given below are balance sheets as of December 31, 2020, and December 31, 2019, for James Hospital. Using the balance sheets and the additional information provided, complete the income statement of James Hospital for the year ended December 31, 2020.

Additional information:
• James Hospital paid no dividends, and there were no other transactions affecting equity during 2020.
• There were no collections during 2020 on accounts receivable outstanding at December 31, 2019, but all receivables are considered collectible.

• There was no charity care or contractual discounts and allowances during 2020.
• James Hospital purchases all medical supplies on account.
• James Hospital did not purchase or sell any property, plant, and equipment during 2020.

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Assets Cash James Hospital Balance Sheets December 31 2020 Accounts receivable Net property, plant, and equipment Total assets Liabilities Equity Total liabilities and equity 2019 $ 75,000 $ 50,000 32,000 22,000 90,000 100,000 $ 197,000 $ 172,000 $ 37,000 160,000 $ 197,000 $ 30,000 142,000 $ 172,000