The following is the pre-closing trial balance for Allen University as of June 30, 2020. Additional information related to net assets and the statement of cash flows is also provided.

Additional Information
Net assets released from donor restrictions totaled $426,850. The gain resulting from sale of investments was unrestricted. Thirty percent of the unrealized gain is related to net assets restricted for programs, with the remainder related to net assets without donor restrictions.

Additional information is as follows:
The balance in cash and cash equivalents as of July 1, 2019, was $615,540.
Tuition and Fees Receivable increased by $10,230.
Pledges Receivable decreased by $1,560.
Allowance for Doubtful Accounts was increased by $770 (the bad debt was netted against Tuition and Fees).
Accounts Payable decreased by $2,900.
Accrued Liabilities decreased by $1,120.
Unearned Revenue increased by $6,200.
Depreciation Expense was $30,070.
Cash of $100,000 was used to retire bonds.
Investments were sold for $1,500,000 (at a gain of $70,000) and others were purchased for $1,250,000.
Net assets without donor restrictions were used to purchase equipment at a cost of $33,000.

Required
a. Prepare a statement of activities for the year ended June 30, 2020.
b. Prepare a statement of financial position for June 30, 2020.
c. Prepare a statement of cash flows for the year ended June 30, 2020.

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ALLEN UNIVERSITY Preclosing Trial Balance June 30, 2020 Debits Credits $ 516,600 Cash and Cash Equivalents Investments 3,200,000 Tuition and Fees Receivable 372,400 $ 75,600 Allowance for Doubtful Accounts Pledges Receivable Allowance for Doubtful Pledges Property, Plant, and Equipment Accumulated Depreciation 223,000 79,000 2,196,160 658,720 Accounts Payable 103,000 Accrued Liabilities 37,500 17,570 Deposits Held in Custody for Others 62,150 792,000 Unearned Revenue Bonds Payable Net Assets-Without Donor Restrictions 3,353,110 Net Assets-With Donor Restrictions 1,320,600 426,850 Net Assets Released from Restrictions-With Donor Restrictions Net Assets Released from Restrictions-Without Donor Restrictions 426,850 Tuition and Fees 1,290,750 327,000 Tuition and Fees Discount and Allowances Contributions-Without Donor Restrictions 310,200 Contributions-With Donor Restrictions 327,000 324,000 Grants and Contracts-With Donor Restrictions Investment Income-Without Donor Restrictions 50,500 Investment Income-With Donor Restrictions 29,500 13,250 153,560 70,000 Other Revenue Auxiliary Enterprise Sales and Services Gain on Sale of Investments 179,200 Unrealized Gain on Investments Instruction Expense Research Expense Academic Support Expense Student Services Expense Institutional Support Expense Auxiliary Enterprise Expenses Total 1,044,630 571,800 240,560 193,000 203,360 158,700 $9,674,060 $9,674,060