The Following Events Were Recorded on the Books of Free

The following events were recorded on the books of Free Hospital for the year ended December 31, 2017.
1. Revenue from patient services totaled $12,000,000. The allowance for uncollectibles was established at $2,500,000. Of the $12,000,000 revenue, $4,500 was recognized under cost reimbursement agreements. This revenue is subject to audit and retroactive adjustment by third-party payors.
2. Patient service revenue is accounted for at established rates on the accrual basis.
3. Other operating revenue totaled $260,000, of which $120,000 was from specific purpose funds.
4. Free received $310,000 in unrestricted gifts and bequests. They are recorded at fair market value when received.
5. Endowment funds earned $120,000 in unrestricted income.
6. Board designated funds earned $62,000 in income.
7. Free's operating expenses for the year amounted to $10,030,000. This included $380,000 in straight-line depreciation.
Required:
Prepare a statement of activities for Free Hospital for the year ended December 31, 2017.