1. Miami Hospital, a private not-for-profit, began the year 2012 with the following trial balance: Debits Credits Cash 604,000 Patient Accounts Receivable 620,000 Allowance for Contractual Adjustments 144,000 Property, Plant, and Equipment Net of Depreciation 800,000 Accounts Payable 340,000 Unrestricted Net Assets 1,300,000 Temporarily Restricted Net Assets 240,000 2,024,000 2,024,000 Transactions for 2012 are as follows: (a) Collected $340,000 of the Patient Accounts Receivable that was outstanding at 12-31-08. Actual contractual adjustments on these receivables totaled $150,000. (b) The Hospital billed patients $2,350,000 for services rendered. Of this amount, 4% is expected to be uncollectible. Contractual adjustments with insurance companies are expected to total $321,000. (Hint: use an allowance account to reduce accounts receivable for estimated contractual adjustments). (c) In 2011 the Hospital had received a contribution of $240,000 to purchase new ultrasound equipment. The equipment was purchased for $200,000 in 2012. (d) Charity care in the amount of $60,000 (at standard charges) was performed for indigent patients. (e) The Hospital received $674,000 in securities to establish a permanent endowment. Income from the endowment is unrestricted. (f) Other revenues collected in cash were: gift shop $11,000 and cafeteria $33,000. (g) The Hospital received in cash unrestricted interest income on endowments of $6,000. Unrealized gains on endowment investments totaled $9,000. (h) Expenses amounting to $1,120,000 for Professional Care of Patients, $310,000 for General Services, and $190,000 for Administration were paid in cash. (i) Depreciation on fixed assets, including the ultrasound equipment, totaled $114,000 for the year. ($90,000 for Professional Care of Patients, $18,000 for General Services, and $6,000 for Administration.) (j) Closing entries were prepared. Required: A. Record the transactions described above. B. Prepare in good form, a Statement of Operations for the year ended December 31, 2012 C. Prepare in good form, a Statement of Changes in Net Assets for the year ended December 31, 2012