Directions: Entries and Accounts for the Morgan Ambulatory Center are listed below with respective balances. Reorder and prepare an income statement for the company. (15 pts)

Purchased services expense $70,000

Provision for bad debts $20,000

Patient service revenue $460,000

Other revenue $10,000

Net operating revenues $360,000

Investment income $70,000

Interest expense $20,000

Depreciation expense $105,000

Benefits and salaries $90,000

Administrative Expenses $120,000