Presented below are comparative post-closing trial balances for a college. In addition, cash transactions for the year ended December 31, 2012, are summarized in the T-account.

Comparative activity statements have been prepared for the year ended December 31, 2012, assuming the college is:
(a) A private not-for-profit (Statement of Activities) and
(b) A public college (Statement of Revenues, Expenses, and Changes in Fund Net Assets). These are provided in the first tab of the Excel file template.
Using the information above and the Excel template provided, prepare statements of cash flow assuming the college is:
(a) A private not-for-profit and
(b) A public college. Assume that all long-term debt is associated with the purchase of property, plant, andequipment.

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December 31, December 31, Increase 2011 2012 (Decrease) Cash Student Accounts Receivable Property, Plant, and Equipment Credits $1,650,000 $1,925,700 147,000 2,600,000 5,167,000 $275,700 (23,000) 100,000 292,000 170,000 2,500,000 4,875,000 2,557,000 46,200 1,000 2,189,000 $4,767,000 $5,046,500 2,107,000 37,500 1,500 2,282,000 450,000 8,700 Accounts Payable Accrued interest Payable Long-term Debt Net Assets (93,000) $279,500 Cash Beginning balance 1/1/2012 Student Tuition and Fees State Appropriations 1,650,000 1,531,000 $1,200,000 Salaries 700,000597,300 Operating Expenses 105,700 175,000 292,000 Equipment Purchases 19,700 Interest Federal Grants Investment Income 66,00093,000 Payment Principal LT Debt $100,000 Purchase Endowment Investments Ending balance 12B1/2012 $1,925,700