St Martha's Hospital, a Private Not-For-Profit, Began the Year 2009

St. Martha's Hospital, a private not-for-profit, began the year 2009 with the following trial balance: $\begin{array}{|l|r|r|}\hline& \underline { \text { Debits } } & \text { Credits } \\\hline \text { Cash } & 504,000 & \\\hline \text { Patient Accounts Receivable } & 620,000 & \\\hline \text { Allowance for Contractual Adjustments } & &144,000 \\\hline \text { Property, Plant, and Equipment - Net of } & 900,000 & \\ \text { Depreciation } & \\\hline \text { Accounts Payable } & & 240,000 \\\hline \text { Unrestricted Net Assets } &&1,400,000\\\hline \text { Temporarily Restricted Net Assets } & & 240,000\\\hline& 2,024,000 & 2,024,000 \\\hline\end{array}$ Transactions for 2009 are as follows:
(a) Collected $310,000 of the Patient Accounts Receivable that were outstanding at 12-31-08. Actual contractual adjustments on these receivables totaled $160,000.
(b) The Hospital billed patients $2,160,000 for services rendered. Of this amount, 5% is expected to be uncollectible. Contractual adjustments with insurance companies are expected to total $321,000. (Hint: use an allowance account to reduce accounts receivable for estimated contractual adjustments).
(c) In 2008 the Hospital had received a contribution of $240,000 to purchase new ultrasound equipment. The equipment was purchased for $200,000 in 2009.
(d) Charity care in the amount of $45,000 (at standard charges) was performed for indigent patients.
(e) The Hospital received $624,000 in securities to establish a permanent endowment. Income from the endowment is unrestricted.
(f) Other revenues collected in cash were: gift shop $11,000 and cafeteria $29,000.
(g) The Hospital received in cash unrestricted interest income on endowments of $6,000. Unrealized gains on endowment investments totaled $9,000.
(h) Expenses amounting to $1,120,000 for Professional Care of Patients, $310,000 for General Services and $190,000 for Administration were paid in cash.
(i) Depreciation on fixed assets, including the ultrasound equipment, totaled $114,000 for the year. ($90,000 for Professional Care of Patients, $18,000 for General Services and $6,000 for Administration.)
(j) Closing entries were prepared.
Required:
A. Record the transactions described above.
B. Prepare in good form, a Statement of Operations for the year ended December 31, 2009
C. Prepare in good form, a Statement of Changes in Net Assets for the year ended December 31, 2009.