Brandywine Clinic, a not-for-profit business, had revenues of $12 million in 2012. Expenses other depreciation totaled 75 percent of revenues, and…

Brandywine Clinic, a not-for-profit business, had revenues of $12 million in 2012. Expenses other depreciation totaled 75 percent of revenues, and depreciation expenses was $1.5 million. All revenues were collected in cash during the year, and all expenses other than depreciation were paid in cash.

A. Construct Brandywines’ 2012 income statement

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