(Preparation of financial statements)

The commissioners of the Regents Park Commission approved the following budget. Assume that the Unreserved fund balance at the beginning of the year was $\$ 10,000$ and that no encumbrances were outstanding and no supplies were on hand at the beginning or the end of the year.

\section*{Required:}
1. Prepare a statement of revenues, expenditures, and changes in fund balance.
2. Prepare a budgetary comparison schedule. Assume that originally approved budget and final budget are identical.

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Estimated Revenues Property taxes $300,000 Concession rentals 100,000 User charges 200,000 $600,000 Appropriations Wages and salaries $200,000 Capital equipment 300,000 Supplies 50,000 550,000 $ 50,000 Projected Increase in Fund Balance During the year, actual revenues were Property taxes $300,000 Concession rentals 120,000 User charges 185,000 Actual expenditures were Wages and salaries $205,000 Capital equipment 290,000 Supplies 40,000