XYZ Hospital is a leading medical facility. Financial data for the fiscal year 2023 is provided below:

Ledgers:

• Patient Services Revenue: $100,000,000
• Salaries and Benefits Expense: $60,000,000
• Supplies Expense: $15,000,000
• Depreciation Expense: $5,000,000

Requirements:

• Prepare XYZ Hospital's income statement for the year ended December 31, 2023.
• Calculate the Operating Income and Non-Operating Revenues/Expenses.
• Determine the Net Income after taxes using a tax-exempt status.
• Analyze XYZ Hospital's financial performance and discuss cost containment strategies.