DMB Homecare, a not-for-profit business
January 2nd, 2018
DMB Homecare, a not-for-profit business, had gross revenues of $15 million in 2008. Contractual allowances and discounts were $2.5 million. Expenses other than depreciation totaled 75% of net revenue, and depreciation was $2 million. Assume bad debt is 2% of net revenues. Construct DMB Homecare’s 2008 income statement.