Problem Entries For The Boston Clinic 2018 Income Statement Are Listed Below Use The Data To Prepare A Properly Formate Income Statement. (Hint: Se Exhibit 11.2.1 Deprecation Expense General/Administrative Expenses Interest Expune Nonoperating Income Other In Patient Service Revenue Provision For Bad Debts Purchased Clinic Services Salaries And Benefits

exhibit 11.2

 

exhibit 11.1

Problem Entries for the Boston Clinic 2018 income statement are listed below. Use the data to prepare a properly. formatted income statement. (Hint: See Exhibit 11.2. Depreciation expense General/Administrative expenses interest espanse Nonoperating income Other operating revenue $110,000 84,000 18,500 50,200 24,600 Patient service revenue 640,400 Provision for bad debts 60,000 Purchased clinic services 120,800 Salaries and benefits 210,000 Problem 2 Consider the following income statement: Rio Grande Nursing Home Inc. Statement of Income Year Ended December 31, 2018 Revenue Resident services revenue Provision for bad debts Other revenue Total revenues Expenses Salaries and benefits Medical supplies and drugs Insurance and other Depreciation Interest Total expenses Operating income Income tax expense Net income $3,520,400 (120,300 150,600 $3,550,700 $1,630,250 990,780 324,622 94,600 160,460 $3.300,712 $ 349,985 120,190 $ 229,798 How does this income statement differ from the one presented in exhibit 11:2? b. What is Rio Grande's total profit margin? c. How do you interpret and assess Rio Grande's total profit margin? Use exhibit 11.1, 2016 as the benchmark for the assessment