Problem 1

Entries for the Boston Clinic 2018 income statement are listed below. Use the data to prepare a properly formatted income statement.

Depreciation expense	$110,000
General/Administrative expenses	84,000
Interest expense	18,500
Nonoperating income	50,200
Other operating revenue	24,600
Patient service revenue	640,400
Provision for bad debts	60,000
Purchased clinic services	120,800
Salaries and benefits	210,000