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The following table provides the income statement for the Hale Medical Group. Calculate total expenses and net income. Calculate the dollar and percent change
The following table provides the income statement for the Hale Medical Group. Calculate total expenses and net income. Calculate the dollar and percent change for each line item. What is the difference in growth rates between revenues and total expenses, and if this difference continues, what will happen to future net income? Which area's expenses have the highest and lowest growth rates? Revenue For the December 31, 2021 Year Ending December 31, 2022 $5,200,000 $5,000,000 Net Patient Service Revenue Total Operating Revenue Operating Expenses Internal Medicine Oncology Obstetrics/Gynecology Administration Depreciation Interest Total Operating Expenses Income from Operations Nonoperating Gains (Losses) Interest Income Net Nonoperating Gains Net Income $2,500,000 950,000 500,000 650,000 30,000 25,000 $10,000 $10,000 $2,620,000 1,000,000 520,000 700,000 30,000 30,000 -$15,000 -$15,000
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