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.

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 $7,270,000.