During 2020, 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 $1,930,000. Estimated contractual adjustments with third-party payors amounted to $540,000 and the Hospital estimated implicit price concessions would total $23,000. 2. Charity services, not included in transaction 1, would amount to $92,000, had billings been made at gross amounts. 3. Other revenues, received in cash, were parking lot, $33,000; cafeteria, $54,500; gift shop, $11,500. 4. Cash gifts restricted by the donor for programs amounted to $37,050 for the year. During the year, $73,400 was expended for technician salaries supporting the program identified by the donor (debit Operating Expense-Salaries and Benefits). 5. Mortgage bond payments amounted to $70,800 for principal and $43,600 for interest. Assume unrestricted resources are used. 6. During the year, the hospital received, in cash, unrestricted contributions of $60,200 and unrestricted income of $51,250 from endowment investments. (It is the hospital's practice to treat unrestricted gifts as nonoperating income.) 7. New equipment, costing $178,000, was acquired, using donor-restricted cash that was on hand at the beginning of the year. 8. An old piece of lab equipment that originally cost $180,000 and that had an undepreciated cost of $36,000 was sold for $20,000 cash. 9. At the end of 2020, pledges (restricted as to purpose) were received in the amount of $130,000. These are intended to be received and expended in 2021. 10. Cash contributions were received from donors restricted for plant acquisition, $271,000. 11. Bills were received for the following items: Utilities $155,900 and Insurance $90,400. These will be paid in January of 2021. 12. Depreciation of plant and equipment amounted to $219,000. 13. Cash payments on accounts payable amounted to $203,100. Another $829,900 was expended on wages and benefits. 14. Cash collections of patient accounts receivable amounted to $1,206,000. These were in settlement of patient accounts totaling $1,652,000. Contractual adjustments associated with these totaled $426,000 and price concessions totaled $20,000. 15. 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, 2020. c. Prepare a Statement of Changes in Net Assets for the Port Hudson Community Hospital for the year ended December 31, 2020. Assume beginning net assets are $7,195,000.