The hospital where you are employed is continuing with their analysis with the goal of opening a walk-in clinic. After conducting additional research, the financial projections for the first year of operations are as follows:

Revenues (from 10,000 visits): $400,000
Wages and benefits: $220,000
Rent: $5,000
Depreciation: $30,000
Utilities: $2,500
Medical supplies: $50,000
Administrative supplies: $10,000

Assume that all costs are fixed except supply costs, which are variable. Assume that the clinic will be required to pay taxes at a 30% tax rate.

Prepare the clinic’s projected Profit and Loss (P&L) Statement.