XYZ Hospital is a major medical center. Financial data for 2023 is detailed below:

Ledgers (in $ millions)	Amount
Patient Services Revenue	300.0
Salaries and Benefits Expense	180.0
Supplies Expense	45.0
Depreciation Expense	15.0

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 relative to peer institutions.
• Discuss how XYZ Hospital can optimize its cost structure to improve financial sustainability.