Problem 12.3 (Changed Values/ Extra Credit)

Here is the financial statement information on four not-for-profit clinics:

Pittman Rose Beckman Jaffe

Dec. 31, 2011:

Assets $70,000 $120,000 $140,000

Liabilities 60,000 80,000

Equity 90,000 55,000 70,000

Dec. 31, 2012:

Assets 150,000 185,000

Liabilities 62,000 65,000 82,000

Equity 48,000 115,000 146,000

During 2012:

Total Revenues 500,000 600,000

Total Expenses 350,000 365,000

Please provide results/answers and formulas.