During 2017, the following transactions were recorded by the Port Hudson Community Hospital, a private sector not-for-profit institution.

1. Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,830,000. Contractual adjustments with third-party payers amounted to $490,000.
2. Charity services, not included in transaction 1, would amount to $72,000, had billings been made at gross amounts.
3. Other revenues, received in cash, were parking lot, $23,000; cafeteria, $39,500; gift shop, $6,500.
4. Cash gifts for cancer research amounted to $28,550 for the year. During the year, $55,400 was expended for cancer research technicians salaries (debit Operating ExpenseSalaries and Benefits).
5. Mortgage bond payments amounted to $54,800 for principal and $31,600 for interest. Assume unrestricted resources are used.
6. During the year, the hospital received, in cash, unrestricted contributions of $46,200 and unrestricted income of $38,750 from endowment investments. (It is the hospitals practice to treat unrestricted gifts as nonoperating income.)
7. New equipment, costing $158,000, was acquired using donor-restricted cash that was on hand at the beginning of the year. Port Hudsons policy is to record all equipment in the unrestricted net asset class.
8. An old piece of lab equipment that originally cost $80,000 and that had an undepreciated cost of $16,000 was sold for $10,000 cash.
9. At the end of 2017, pledges received in the amount of $135,000 were intended to be paid and used for unrestricted purposes in 2018.
10. Cash contributions were received as follows: temporarily restricted for purposes other than plant, $43,750; temporarily restricted for plant acquisition, $136,000.
11. Bills totaling $225,300 were received for the following items:

Utilities	$	142,900
Insurance		82,400

12. Depreciation of plant and equipment amounted to $189,000.
13. Cash payments on vouchers payable amounted to $176,100. Another $806,900 was expended on wages and benefits. Cash collections of patient accounts receivable amounted to $1,186,000.
14. Closing entries were prepared.

Required: a. Record the transactions in the general journal of the Port Hudson Community Hospital. b. Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2017.

PORT HUDSON COMMUNITY HOSPITAL
Statement of Operations
For the Year Ended December 31, 2017
Unrestricted Revenues:
Total Revenues	0
Net Assets Released From Restrictions:
Total Operating Revenues	0
Operating Expenses:
Total Operating Expenses	0
Other Income:
Total Other Income	0
Excess of Revenues Over Expenses	0
Net Assets Released from Restrictions:
	$0

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