1. Suppose that Middleton Clinic had total assets of $500,000 and an equity balance of $350,000 at the end of 2020. One year later, at the end of 2021, the clinic had $575,000 in assets and $380,000 in equity. What was the clinic's dollar growth in assets during 2021, and how was this growth financed?

2. Suppose that San Mateo Healthcare had an equity (net assets) balance of $1.38 million at the beginning of the year. At the end of the year, its equity (net assets) balance was $1.98 million. Assume that San Mateo is a not-for-profit organization. What was its net income for the period?