Brandywine Homecare, a not-for-profit business, had revenues of $12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $1.5 million. All revenues were collected in cash during the year and all expenses other than depreciation were paid in cash.
1. Construct Brandywine's 2007 income statement.© BrainMass Inc. brainmass.com June 4, 2020, 12:14 am ad1c9bdddf
Income statement help is offered.