Question
Entries for the Clinic 2018 income statement are listed below in alphabetical order. Depreciation expense$75,000 General & Admin expenses$50,000 Interest income$10,000 Net income???? Nonoperating income$30,000
Entries for the Clinic 2018 income statement are listed below in alphabetical order.
Depreciation expense$75,000
General & Admin expenses$50,000
Interest income$10,000
Net income????
Nonoperating income$30,000
Other operating revenue12,000
Patient service revenue$500,000
Provision for bad debts$20,000
Purchased clinic services$100,000
Salaries & benefits$125,000
a.Reorder the data to reflect income statement format.
b.What is Clinic's 2018 net income?
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Financial and Management Accounting
Authors: Pauline Weetman
7th edition
1292086599, 978-1292086590
