Following is the governmental activities preclosing trial balance for the Town of Freaz. Freaz is a relatively small town and, as a result, it has only governmental funds (i.e., it uses no proprietary funds). There are no component units. To complete the financial statements for its annual report, the town must prepare a government-wide statement of net position and a statement of activities.

Required

Using the trial balance provided by the town, prepare a government-wide statement of activities and a statement of net position. The restricted net position for debt service increased $87 for FY 2023. The net position accounts do not reflect FY 2023 depreciation of $1,080 that was allocated to the functions of government. 

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Cash Investments Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Due from Other Funds Due from Other Governments Land Town of Freaz Preclosing Trial Balance As of June 30, 2023 (000s omitted) Buildings Accumulated Depreciation-Buildings Infrastructure Accumulated Depreciation-Infrastructure Machinery & Equipment Accumulated Depreciation-Machinery & Equipment Accounts Payable Accrued Liabilities Due to Other Funds Current Portion of Long-Term Debt Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Restricted for Debt Service Debits $ 3,639 7,299 5.788 645 6,343 8,720 25,680 85,768 28,720 Credits 49 8,021 45,603 13,785 7,764 4,765 748 8,600 28,700 45,259 2,123