1. What primary question is addressed by the organizational income statement? 2. What is the difference between gross and net accounts receivables? 3. What is the difference between gross and net property and equipment? 4. State the accounting identity (i.e. the accounting equation). 5. A medical services organization receives $500,000 from a 3rd party payer for services previously provided on credit. How is this transaction accounted for? (Hint - you will need to identify the two (2) balancing entries that properly account for the financial impact of this transaction). 6. A hospital pays $1,500,000 to reduce the amount it owes on a total of $20,000,000 in long term debt. How is this transaction accounted for? (Hint - you will need to identify the two (2) balancing entries that properly account for the financial impact of this transaction). 7. Identify one type of adjustment made to the statement of operating cash flows. 8. True or False - the net income from the income statement must match the ending cash account balance listed on the cash flow statement at the end of each year. HSCA 3600 - Financial Management of Healthcare Organizations Balance Sheet/Cash Flow Statement Problems Find the missing values (a-l) for each of the following financial statements: Innovative Medical Solutions is a not-for-profit health care organization. It began the year 2020 with the following account balances