The following are account balances as of September 30, 20X1, for Exton Outpatient Center. Prepare (a) a balance sheet, (b) a statement of operations, and (c) a statement of changes in net assets for September 30, 20X1.

Givens:

Insurance expense $55,000

Depreciation expense $33,000

Cash $61,000

General Expense $255,000

Patient revenue (net of contractuals) $1,100,000

Transfer to parent corporation $55,000

Net accounts receivable $350,000

Beginning balance, unrestricted net assets $275,000

Ending balance, temporarily restricted net assets $48,000

Accounts payable $23,000

Wages payable $37,000

Beginning balance temporarily restricted net assets $70,000

Prepaid expenses $8,000

Provision for bad debts $8,000

Long-term debt $270,000

Labor expense $470,000

Supply expense $65,000

Accumulated depreciation $450,000

Gross plant, property, and equipment $900,000

Ending/beginning balance, permanently restricted net assets $35,000

Net assets released from temporary restriction $22,000

Ending balance, unrestricted net assets $456,000