Childrens Hospital is a private, not-for-profit hospital. The following information is available about the operations.

1. Gross patient services charges totaled $6,400,000.

2. Included in the above revenues are: charity services, $210,000; contractual adjustments, $2,400,000; and courtesy allowances, $37,000.

3. Received a donation of marketable securities with a fair value of $165,000 for the purchase of new diagnostic equipment.

4. The marketable securities were sold for $182,000 and diagnostic equipment was purchased at a cost of $210,000.

5. Revenue from the hospital gift shop was $58,000 and from the cafeteria revenues were $227,000. Received cash from both enterprises.

6. Incurred and paid nursing service costs of $1,700,000 and general service costs of $400,000.

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