Great Forks Hospital reported net income for 2016 of $2.4 million on total revenues of $30 million. Depreciation expense totaled $1 million. What were total expenses for 2016? What were total cash expenses for 2016? (Hint: Assume that all expenses,except depreciation, were cash expenses.) What was the hospital’s 2016 estimated cash flow?

Great Forks Hospital reported net income for 2016 of $2.4 million on total revenues of $30 million. Depreciation expense totaled $1 million. What were total expenses for 2016? What were total cash expenses for 2016? (Hint: Assume that all expenses,except depreciation, were cash expenses.) What was the hospital’s 2016 estimated cash flow?

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 8PEA

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