Columbia Needycare is a clinic in south Florida that providesbasic medical care for homeless and indigent patients. Theclinic is a nonprofit organization that receives revenue fromhowever much patients can pay at the time of their visit.These revenues totaled $5 million in 2017. The clinic'sexpenses, other than its depreciation, totaled 70% of itsrevenues. The depreciation expenses were $1 million. Otherthan depreciation, the clinic pays all of its expenses withcash because all of its revenues are collected in cash. Basedon this information, complete the following items for Part Iof the case study.

1) Develop an income statement for Columbia Needycare for2017.