Intensive Care Urology Practice (ICUP), a not-for profit business, has revenues in 2017 of $150,000. Expenses are $80,000 plus depreciation of...

Intensive Care Urology Practice (ICUP), a not-for profit business, has revenues in 2017 of $150,000. Expenses are $80,000 plus depreciation of $20,000. All revenues were collected in cash, and all expenses, excluding depreciation, were paid in cash during the year. No other assets were purchased and no money was borrowed

A: Construction ICUP's Income Statement:  

        Revenue:

        Expenses:

        Net Income:

B: What was ICUP's Cash Flow for the year?

        Net Income:

        Depreciation:

        Cash Flow:

C: If PU changed it's depreciation method so that the Depreciation Expense doubled to $160,000, what would be the new Net Income (other expenses remained the same)?

          Revenue:

          Depreciation:

          Other Expenses:

          Total Expenses:

          Net Profit:

D: Again, If (under GAAP) ICUP changed its depreciation method so that the Depreciation Expense double to $160,000, what would be the new Cash Flow?

         New Profit:

         Depreciation:

         Cash flow:

E.  Comment on the results: