Following is the governmental activities pre-closing 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 2020. The net position accounts do not reflect FY 2020 depreciation of $1,080 that was allocated to the functions of government, or the town€™s decision to designate $900 for street repair. (All 000s omitted.)

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TOWN OF FREAZ Preclosing Trial Balance As of June 30, 2020 (000s omitted) Credits Debits $ 3,639 Cash Investments 7,299 Taxes Receivable-Delinquent 5,788 Allowance for Uncollectible Delinquent Taxes 49 Due from Other Funds 645 Due from Other Governments 6,343 Land 8,720 Buildings 25,680 Accumulated Depreciation-Buildings 8,021 Infrastructure 85,768 Accumulated Depreciation-Infrastructure Machinery & Equipment 45,603 28,720 13,785 Accumulated Depreciation-Machinery & Equipment Accounts Payable 7,764 Accrued Liabilities 4,765 Due to Other Funds 748 Current Portion of Long-term Debt 8,600 Bonds Payable 28,700 Net Position-Net Investment in Capital Assets 45,259 Net Position-Restricted for Debt Service 2,123 Net Position-Unrestricted 6,598 Program Revenues-General Government-Charges for Services 4,411 Program Revenues-Public Safety-Charges for Services 996 359 Program Revenues-Culture & Recreation-Charges for Services Program Revenues-General Government-Operating Grants & Contributions 307 Program Revenues-Public Works-Capital Grants & Contributions General Revenues-Property Taxes 1,680 13,665 General Revenues-Interest & Penalties 746 General Revenues-Interest Income 345 Expenses-General Government Expenses-Public Safety Expenses-Public Works Expenses-Culture & Recreation 2,468 11,577 5,311 1,817 Expenses-Interest on Long-term Debt 749 $194,524 $194,524