Healthcare FinanceSpring 2020Homework #21.A. From a financial perspective, briefly describe the concept of a business. B. What is the difference between a business and a pure charity?2.What are the three legal forms of business organization? What are the advantages and disadvantages of each one?3.What are the primary differences between investor-owned and not-for-profit corporations?4.What is the difference between a standard corporation (C-corporation) and a benefitcorporation (B-corporation)?5.A. What is the primary goal of investor-owned corporationsB. What is the primary goal of most not-for-profit healthcare corporations?C. Are substantial differences found between the financial goals of investor owned and not-for-profit corporations? Explain your answer. D. What is an agency problem?6.A. Why are tax lows important to healthcare financeB. What three major advantages do tax laws give to not-for-profit corporations?7.Assume that Provident Health System, a for-profit hospital, has $1 million in taxable income for 2019, and its tax rate is 30 percent. a.Given this information, what is the firm’s net income? (Net incme is what remains after taxes have been paid.)b. Suppose the hospital pays out $300,000 in