St David's Hospital, a Private Not-For-Profit, Began the Year 2017

St. David's Hospital, a private not-for-profit, began the year 2017 with the following trial balance:

Transactions for 2017 are as follows:
a) Collected $340,000 of the Patient Accounts Receivable that was outstanding at 12-31-2016. Actual contractual adjustments on these receivables totaled $152,000.
b) The Hospital billed patients $2,350,000 for services rendered. Of this amount, 7% is expected to be uncollectible. Contractual adjustments with insurance companies are expected to total $792,000. Hint: use an allowance account to reduce accounts receivable for estimated contractual adjustments). The Hospital collected $1,235,000 of the amount billed to patients
c) In 2016 the Hospital had received a contribution of $240,000 to purchase new ultrasound equipment. The equipment was purchased for $300,000 in 2017.
d) Charity care in the amount of $60,000 at standard charges) was performed for indigent patients.
e) The Hospital received $700,000 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 $34,000.
g) The Hospital received in cash unrestricted interest income on endowments of $5,000. Unrealized gains on endowment investments totaled $7,000.
h) Expenses amounting to $1,160,000 for Professional Care of Patients, $340,000 for General Services, and $219,000 for Administration were paid in cash.
i) Depreciation on fixed assets, including the ultrasound equipment, totaled $125,000 for the year. $90,000 for Professional Care of Patients, $18,000 for General Services, and $16,000 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, 2017
C. Prepare in good form, a Statement of Changes in Net Assets for the year ended December 31, 2017.