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 $1,980,000. Estimated contractual adjustments with third-party payors amounted to $565,000 and the Hospital estimated implicit price concessions would total $28,000.
2. Charity services, not included in transaction 1, would amount to $102,000, had billings been made at gross amounts.
3. Other revenues, received in cash, were parking lot, $38,000; cafeteria, $62,000; gift shop, $14,000.
4. Cash gifts restricted by the donor for programs amounted to $41,300 for the year. During the year, $82,400 was expended for technician salaries supporting the program identified by the donor (debit Operating ExpenseSalaries and Benefits).
5. Mortgage bond payments amounted to $78,800 for principal and $49,600 for interest. Assume unrestricted resources are used.
6. During the year, the hospital received, in cash, unrestricted contributions of $67,200 and unrestricted income of $57,500 from endowment investments. (It is the hospitals practice to treat unrestricted gifts as nonoperating income.)
7. New equipment, costing $188,000, 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 $230,000 and that had an undepreciated cost of $46,000 was sold for $25,000 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, $313,000.
11. Bills were received for the following items: Utilities $162,400 and Insurance $94,400. These will be paid in January of 2021.
12. Depreciation of plant and equipment amounted to $234,000.
13. Cash payments on accounts payable amounted to $216,600. Another $841,400 was expended on wages and benefits.
14. Cash collections of patient accounts receivable amounted to $1,216,000. These were in settlement of patient accounts totaling $1,677,000. Contractual adjustments associated with these totaled $436,000 and price concessions totaled $25,000.
15. Closing entries were prepared.

Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020.

PORT HUDSON COMMUNITY HOSPITAL
Statement of Operations
For the Year Ended December 31, 2020
Revenues Without Donor Restrictions:
Total Revenues	0
Net Assets Released From Restrictions:
Total Operating Revenues	0
Operating Expenses:
Depreciation
Salaries and Benefits
Utilities
Insurance
Interest
Total Operating Expenses	0
Other Income:
Total Other Income	0
Excess of Revenues Over Expenses	0
Net Assets Released from Restrictions:
	$0