Dollars for Scholars is a national organization that provides scholarships (usually $500 to $1,000 each) to qualified high school seniors pursuing higher education. The national organization sponsors independent local charities (e.g., Greater Coralville Dollars for Scholars, Clear Lake Dollars for Scholars). Each chapter raises its own money, decides on scholarships, and otherwise manages itself. Each chapter conducts a variety of programs (e.g., Battle of the Bands, Silent Auctions) to raise money.
The following data pertain to the Clear Lake DFS group for the most recent year.
Program receipts .......... $25,459.93
Program costs ............ $14,345.55
In kind donations (for programs) ..... 2,450.00
Cash donations (not related to programs) . 14,000.00
Interest income ............ 2,396.48
Administration expenses:
Office expenses ............. 2,440.00
Postage and printing ............. 845.00
Board meetings ............... 143.50
Scholarships handed out ........ $23,000.00
Beginning fund balance ......... $47,500.00

Required:
Prepare financial statements that might be useful to the board of the Clear Lake DFS.