(Statement of Revenues, Expenditures, and Changes in Fund Balance) Using the follow- ing information, prepare the Statement of Revenues, Expenditures, and Changes in Fund Balance for the City of Nancy General Fund for the fiscal year ended December 31, 20X7. 1. Fund Balance, January 1, 20X7, was $225,000. 2. Revenues for 20X7 totaled $2,500,000, including

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Property taxes Licenses and permits.. Intergovernmental revenues Proceeds from short-term note Other........ General government. Public safety. $1,800,000 190,000 310,000 Other revenues include $40,000 received from a Capital Projects Fund upon completion of the project and termination of the fund and a $65,000 routine annual transfer from the city's Water Enterprise Fund. 3. Expenditures for 20X7 totaled $2,600,000, including Highways and streets. Health and sanitation Other... 50,000 150,000 $ 800,000 1,000,000 600,000 150,000 50,000