Given below is al list of account balances for Silverlake Hospital as of December 31, 2020. Prepare a balance sheet as of December 31, 2020, in proper form. (Hint: you need to compute the net assets account. Assume that all net assets as the beginning of the year are unrestricted.)

Silverlake Hospital Account Balances

Account	Balance
Gross plant & equipment	$6,000,000
Accounts payable	130,000
Inventories	100,000
Other current liabilities	70,000
Net accounts receivable	650,000
Accrued expenses	100,000
Accumulated depreciation	200,000
Long-term debt	5,000,000
Cash	210,000

Below is the list of accounts for Silverlake Hospital for December 2020 (annual amounts). Prepare a statement of operations for 2020 in good form.

Silverlake Hospital List of Accounts

Account	Amount
Administrative expenses	$80,000
Net assets released from temporarily restricted accounts for operations	120,000
Labor expense	260,000
Interest expense	12,000
Net patient service revenue	840,000
Supply expense	88,000
Transfer to parent corporation	10,000
Bad debt expense	40,000
Depreciation expense	50,000