P 20-7 Preparation of a fund statement of revenues, expenditures, and changes in fund balance The following information regarding the fiscal year ended December 31, 2016, was drawn from the accounts and records of the Volendam County general fund:

Revenues and Other Asset Inflows Taxes $10,000,000 Licenses and permits 2,000,000 Intergovernmental grants 300,000 Proceeds of short-term note issuances 1,000,000 Collection of interfund advance to other fund 450,000 Receipt of net position of terminated fund 2,000,000 Expenditures and Other Asset Outflows General government expenditures 8,000,000 Public safety expenditures 1,500,000 Judicial system expenditures 1,000,000 Health and welfare expenditures 1,200,000 Equipment purchases 600,000 Payment to debt service fund to cover future debt service on general government bonds 320,000 Fund balance—unassigned, January 1, 2016 $3,130,000 REQuIRED: Prepare a statement of revenues, expenditures, and changes in fund balance for the Volendam County general fund for the year ended December 31, 2016.