Oak Street Clinic, a not-for-profit, began 2015 with the following account balances on January 1: $ 70,000 245,000 18,000 24,000 1,500,000 300,000 21,000 Cash Accounts receivable Allowance for doubtful accounts Supplies inventory Equipment Accumulated depreciation Accounts payable Notes payable 500,000 1,000,000 Net assets During 2015, the accounting clerk recorded the following transactions: 1. Billed patients for services rendered $1,700,000 2. Purchased medical supplies on 12,000 credit 3. Employee salaries carned 712,000 4. Employee salaries paid 5. Annual depreciation on equipment 683,000 150,000 6. Received a bank loan 250,000 7. Cash collections on patient billings 8. Estimated bad debts for year 9. Made payment on bank loan 10. Used medical supplies in patient care 1,124,000 44,000 75,000 10,000 Oak Street Clinic's year-end is December 31. Construct the 2015 bal- ance sheet and income statement for the clinic, using the beginning account balances and incorporating the effects of cach transaction.