The following balances come from the trial balance of Wilson State College as of the end of the 2020 fiscal year.

Required
a. Prepare a statement of revenues, expenses, and changes in net position for the year ended June 30, 2020, in good form. See Illustrations 15€“2 and 7€“7; however, display expenses using functional classifications as shown in Illustration 15€“5
b. Prepare a statement of net position as of June 30, 2020, in good form. For the period, net position restricted for capital projects increased by $3,000, and net position restricted for debt service increased by $150; all bonded debt relates to capital assets. See Illustration 15€“1.
c. Prepare a statement of cash flows for the year ended June 30, 2020. Information on changes in assets and liabilities is as follows: Accounts Receivable (net) increased by $2,551; Due from State decreased by $14,842; Inventories increased by $23; Accounts Payable and Accrued Liabilities increased by $1,962; and Unearned Revenue decreased by $1,763. See Illustration 15€“3.

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WILSON STATE COLLEGE Preclosing Trial Balance June 30, 2020 (000s omitted) Debits Credits $ 3,278 Cash and Cash Equivalents Investments 29,387 Accounts Receivable 1,957 $ 137 Allowance for Uncollectible Receivables 79,626 869 Due from State Inventories Cash and Cash Equivalents-Restricted 6,716 71,883 Investments-Restricted Debits Credits Depreciable Capital Assets Accumulated Depreciation Nondepreciable Assets Accounts Payable 184,620 28,850 89,481 2,306 Accrued Liabilities 2,039 Unearned Revenue Compensated Absences-Current Portion Bonds Payable Compensated Absences Net Position-Net Investment in Capital Assets Net Position-Restricted for Debt Service-Expendable Net Position-Restricted for Capital Projects-Expendable Net Position-Restricted for Endowment-Nonexpendable 13,789 1,538 92,116 37,662 158,715 1,157 49,272 39,959 36,559 30,095 Net Position-Unrestricted Tuition and Fees Tuition and Fees Discount and Allowances 7,565 Grants and Contracts Revenue 18,196 14,595 Auxiliary Enterprise Sales Investment Income 1,745 State Appropriations Capital Appropriations Institutional Support Expenses Academic Support Expenses Scholarships and Fellowships Expense Depreciation Expense Interest Expense Auxiliary Enterprise Expenses 44,894 12,785 26,268 58,940 7,664 5,580 378 12,197 Totals $586,409 $586,409 Information on Cash and Cash Equivalents Activity Beginning Cash Balance (includes restricted cash) Received Tuition and Fees (net) $ 8,067 23,609 12,940 13,765 58,220 Received Grants and Contracts Received from Auxiliary Enterprises Payments to Employees Payments to Vendors Payments to Students for Scholarships and Fellowships 21,711 Received State Appropriations Received Capital Appropriations Purchase of Capital Assets 7,664 39,894 20,540 20,634 2,095 1,503 Interest Paid on Debt Interest Income