( Course Objective # 3 and 5) Answer all the questions. Insert the Excel formula when needed. 1. You are considering starting a walk-in clinic called First Rate Walk-in Clinic. Your financial projections for the first year of operations are as follows: Revenues (at 10,000 visits) 400,000 Wages and benefits 220,000 Rent 5,000 Depreciation 30,000 Utilities 2,500 Medical supplies 50,000 Administrative supplies 10,000 Assume that all costs are fixed except supplies costs, which are variable. Furthermore, assume that the clinic must pay taxes at a 30 percent rate. Construct the clinic's projected P&L statement by putting in the amounts using the template below. Compute for the Total operating costs, Taxable Income, Taxes, and Profit. Use Excel formulas when needed: First Rate Walk-in Clinic Projected Profit and Loss Statement Total Revenues: Variable costs: Medical supplies Administrative supplies Total Variable costs Fixed costs: Wages and benefits Rent Depreciation Utilities Total Fixed costs Total operating costs Less Taxable Income Taxes (30% of Taxable Income) Profit (After Taxes) 2. Northeast Medical Group, a family practice, has the following financial data and operational metrics: Number of physicians 5 Total revenue 2,748,360 Total operating costs 1,557,615 Total procedures per physician 12,353 Patients per physician 1,941 Visits per physician 5,333 a. What is the group's revenue per physician? b. What is the group's operating cost per physician? c. What is the group's total operating profit? d. Using your answer in letter c, what is the group's profit per physician? e. In letter c, you have computed the group's total operating profit. Assume that the group plans to reinvest and spend $50,000 of the profit by buying a new EKG (electrocardiogram) machine. How much is the new amount of profit available for distribution after buying the $50,000 EKG machine? f. Using your answer in letter e, assume that the remainder of profits will be distributed equally to the group's physicians as salary. How much will each physician receive as salary?